Price T Rowe Associates Inc. MD Cuts Stock Position in Seadrill Limited (NYSE:SDRL)

Price T Rowe Associates Inc. MD decreased its holdings in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 71.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,622 shares of the oil and gas company's stock after selling 1,006,978 shares during the period. Price T Rowe Associates Inc. MD owned about 0.56% of Seadrill worth $16,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Seadrill by 134.8% in the 4th quarter. JPMorgan Chase & Co. now owns 206,738 shares of the oil and gas company's stock valued at $8,048,000 after purchasing an additional 118,699 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Seadrill by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 540,864 shares of the oil and gas company's stock valued at $21,056,000 after buying an additional 16,230 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Seadrill in the fourth quarter worth about $4,458,000. Bridgewater Associates LP boosted its position in Seadrill by 125.7% during the fourth quarter. Bridgewater Associates LP now owns 163,024 shares of the oil and gas company's stock worth $6,347,000 after acquiring an additional 90,795 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Seadrill by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,459,524 shares of the oil and gas company's stock valued at $134,677,000 after acquiring an additional 384,471 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Seadrill Trading Up 4.8 %

SDRL traded up $1.08 during trading hours on Tuesday, reaching $23.55. The company's stock had a trading volume of 531,772 shares, compared to its average volume of 1,034,374. The business's 50-day moving average is $22.60 and its 200-day moving average is $32.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 2.53. The stock has a market cap of $1.46 billion, a PE ratio of 4.11 and a beta of 1.48. Seadrill Limited has a fifty-two week low of $17.74 and a fifty-two week high of $56.46.

Seadrill (NYSE:SDRL - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The oil and gas company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $1.41. Seadrill had a return on equity of 7.24% and a net margin of 27.79%. The business had revenue of $289.00 million during the quarter, compared to analysts' expectations of $299.50 million. As a group, equities research analysts predict that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on SDRL shares. Citigroup lowered their target price on Seadrill from $46.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. BWS Financial reissued a "buy" rating and set a $80.00 price objective on shares of Seadrill in a research note on Monday, March 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Seadrill presently has an average rating of "Buy" and a consensus target price of $62.00.

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.