Wellington Management Group LLP Invests $29.95 Million in Seadrill Limited $SDRL

Key Points

• Wellington Management Group acquired 791,842 Seadrill shares worth approximately $29.95 million, giving it a 1.27% stake. Institutional investors collectively own 95.67% of the company.
• Seadrill reported quarterly EPS of $0.47, beating the $0.29 consensus estimate, while revenue reached $430 million versus expectations of $388.46 million.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $59.40, compared with shares opening at $49.00.

Wellington Management Group LLP purchased a new position in shares of Seadrill Limited (NYSE:SDRL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 791,842 shares of the oil and gas company's stock, valued at approximately $29,947,000. Wellington Management Group LLP owned approximately 1.27% of Seadrill at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SDRL. Raymond James Financial Inc. acquired a new position in Seadrill during the second quarter valued at approximately $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill in the 2nd quarter valued at $42,000. Aquatic Capital Management LLC bought a new position in shares of Seadrill in the 3rd quarter valued at $44,000. State of Wyoming acquired a new position in shares of Seadrill during the 2nd quarter worth $55,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Seadrill during the 3rd quarter worth $61,000. 95.67% of the stock is owned by institutional investors.

Seadrill Stock Down 2.1%

Shares of NYSE:SDRL opened at $49.00 on Friday. Seadrill Limited has a 52-week low of $28.10 and a 52-week high of $55.47. The company has a market capitalization of $3.06 billion, a PE ratio of 1,633.33 and a beta of 1.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The company has a fifty day moving average of $44.17 and a 200-day moving average of $45.18.

Seadrill (NYSE:SDRL - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.18. Seadrill had a return on equity of 0.64% and a net margin of 0.07%.The company had revenue of $430.00 million for the quarter, compared to the consensus estimate of $388.46 million. On average, equities analysts predict that Seadrill Limited will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SDRL. Capital One Financial set a $55.00 price objective on Seadrill and gave the company an "overweight" rating in a research note on Wednesday, July 1st. BWS Financial reissued a "buy" rating and set a $80.00 target price on shares of Seadrill in a research note on Tuesday, August 11th. Fearnley Fonds raised shares of Seadrill from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Seadrill in a research note on Tuesday, June 30th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.40.

Seadrill Company Profile

Seadrill Limited, trading on the New York Stock Exchange under the symbol SDRL, is a leading provider of offshore drilling services to the global oil and gas industry. The company specializes in the design, construction, deployment and operation of mobile offshore drilling units, serving major exploration and production companies with turnkey drilling solutions.

Seadrill’s fleet comprises ultra-deepwater drillships, semi-submersible rigs and high-specification jack-up units capable of operating in some of the world’s most challenging offshore environments.

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