Seadrill Limited (NYSE:SDRL) Shares Bought by Millennium Management LLC

Millennium Management LLC raised its holdings in Seadrill Limited (NYSE:SDRL - Free Report) by 100.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,320,640 shares of the oil and gas company's stock after purchasing an additional 663,362 shares during the period. Millennium Management LLC owned 1.79% of Seadrill worth $51,413,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SDRL. Headlands Technologies LLC purchased a new stake in Seadrill in the 4th quarter valued at approximately $28,000. Sterling Capital Management LLC increased its position in Seadrill by 756.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,567 shares of the oil and gas company's stock worth $61,000 after buying an additional 1,384 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Seadrill by 10.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company's stock worth $146,000 after acquiring an additional 354 shares during the last quarter. Crestline Management LP purchased a new stake in shares of Seadrill in the fourth quarter valued at $216,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Seadrill in the fourth quarter valued at $253,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Seadrill Trading Down 3.4%

Seadrill stock traded down $0.79 during trading on Thursday, hitting $22.46. The company's stock had a trading volume of 105,261 shares, compared to its average volume of 959,711. The stock's fifty day moving average is $22.55 and its 200 day moving average is $31.00. Seadrill Limited has a 1-year low of $17.74 and a 1-year high of $56.46. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 3.91 and a beta of 1.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.53 and a current ratio of 2.53.

Seadrill (NYSE:SDRL - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.48). The business had revenue of $335.00 million for the quarter, compared to analyst estimates of $325.69 million. Seadrill had a net margin of 27.79% and a return on equity of 7.24%. As a group, equities research analysts predict that Seadrill Limited will post 1.86 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. BWS Financial reiterated a "buy" rating and set a $80.00 price objective on shares of Seadrill in a research report on Tuesday, May 13th. Citigroup decreased their price target on shares of Seadrill from $46.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Finally, BTIG Research set a $28.00 price objective on shares of Seadrill in a research report on Monday, May 5th.

Seadrill Company Profile

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.