Patient Capital Management LLC Buys 651,132 Shares of Seadrill Limited (NYSE:SDRL)

Patient Capital Management LLC increased its holdings in Seadrill Limited (NYSE:SDRL - Free Report) by 63.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,676,777 shares of the oil and gas company's stock after purchasing an additional 651,132 shares during the quarter. Seadrill accounts for 3.0% of Patient Capital Management LLC's investment portfolio, making the stock its 15th biggest position. Patient Capital Management LLC owned 2.27% of Seadrill worth $65,277,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in Seadrill in the fourth quarter worth approximately $28,000. Sterling Capital Management LLC grew its position in shares of Seadrill by 756.3% in the 4th 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 during the last quarter. PNC Financial Services Group Inc. lifted its stake in Seadrill by 10.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company's stock valued at $146,000 after acquiring an additional 354 shares during the period. Crestline Management LP acquired a new position in shares of Seadrill in the 4th quarter valued at $216,000. Finally, Cibc World Markets Corp purchased a new stake in Seadrill in the 4th quarter worth $253,000. Hedge funds and other institutional investors own 95.67% of the company's stock.

Analysts Set New Price Targets

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

Seadrill Trading Down 1.7%

NYSE SDRL traded down $0.42 during mid-day trading on Monday, hitting $23.79. The company's stock had a trading volume of 176,931 shares, compared to its average volume of 962,208. The firm has a market capitalization of $1.48 billion, a P/E ratio of 4.15 and a beta of 1.48. The stock's fifty day simple moving average is $22.59 and its two-hundred day simple moving average is $31.31. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $56.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 2.53.

Seadrill (NYSE:SDRL - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The oil and gas company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.48). Seadrill had a return on equity of 7.24% and a net margin of 27.79%. The firm had revenue of $335.00 million for the quarter, compared to the consensus estimate of $325.69 million. Research analysts expect that Seadrill Limited will post 1.86 EPS for the current year.

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.