Wellington Management Group LLP Sells 433,085 Shares of Seadrill Limited $SDRL

Key Points

• Wellington Management Group LLP has reduced its stake in Seadrill Limited by 13.4%, selling 433,085 shares and now holding approximately 2.8 million shares valued at $70.23 million.
• Seadrill reported a quarterly earnings loss of ($0.68) EPS, significantly missing the consensus estimate, although it generated $377 million in revenue, exceeding expectations.
• Research firms have mixed ratings on Seadrill, with Zacks Research labeling it a "strong sell," while Citigroup maintains a "buy" rating with a price target of $36.00.

Wellington Management Group LLP lessened its holdings in Seadrill Limited (NYSE:SDRL - Free Report) by 13.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,809,330 shares of the oil and gas company's stock after selling 433,085 shares during the quarter. Wellington Management Group LLP owned approximately 4.52% of Seadrill worth $70,233,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SDRL. BNP Paribas Financial Markets bought a new position in shares of Seadrill in the 4th quarter valued at about $66,400,000. Third Point LLC bought a new position in shares of Seadrill in the 4th quarter valued at about $39,903,000. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Seadrill by 151.9% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,200,201 shares of the oil and gas company's stock valued at $30,149,000 after purchasing an additional 723,827 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Seadrill by 100.9% in the 4th quarter. Millennium Management LLC now owns 1,320,640 shares of the oil and gas company's stock valued at $51,413,000 after purchasing an additional 663,362 shares during the last quarter. Finally, Patient Capital Management LLC boosted its stake in shares of Seadrill by 63.5% in the 4th quarter. Patient Capital Management LLC now owns 1,676,777 shares of the oil and gas company's stock valued at $65,277,000 after purchasing an additional 651,132 shares during the last quarter. Institutional investors own 95.67% of the company's stock.

Seadrill Stock Performance

Shares of SDRL stock opened at $31.2380 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market capitalization of $1.94 billion, a P/E ratio of 27.89 and a beta of 1.61. The company's 50 day moving average price is $28.86 and its two-hundred day moving average price is $26.27. Seadrill Limited has a 52 week low of $17.74 and a 52 week high of $44.74.

Seadrill (NYSE:SDRL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.68) EPS for the quarter, missing the consensus estimate of $0.68 by ($1.36). The company had revenue of $377.00 million for the quarter, compared to analyst estimates of $365.73 million. Seadrill had a return on equity of 1.58% and a net margin of 5.68%. On average, analysts expect that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SDRL. Zacks Research raised shares of Seadrill to a "strong sell" rating in a research note on Tuesday, August 12th. Citigroup reissued a "buy" rating and set a $36.00 price objective (up previously from $35.00) on shares of Seadrill in a research note on Wednesday, June 18th. Fearnley Fonds lowered shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. BTIG Research set a $28.00 price objective on shares of Seadrill in a research note on Monday, May 5th. Finally, BWS Financial reissued a "buy" rating and set a $80.00 price objective on shares of Seadrill in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Seadrill currently has a consensus rating of "Hold" and a consensus price target of $48.00.

About Seadrill

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.

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