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

Patient Capital Management LLC raised its stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 63.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,676,777 shares of the oil and gas company's stock after acquiring an additional 651,132 shares during the period. Seadrill comprises approximately 3.0% of Patient Capital Management LLC's investment portfolio, making the stock its 15th largest holding. Patient Capital Management LLC owned 2.27% of Seadrill worth $65,277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Nokomis Capital L.L.C. increased its position in shares of Seadrill by 10.3% during the 4th quarter. Nokomis Capital L.L.C. now owns 275,066 shares of the oil and gas company's stock valued at $10,708,000 after purchasing an additional 25,762 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Seadrill by 59.6% during the 4th quarter. Nuveen Asset Management LLC now owns 656,908 shares of the oil and gas company's stock valued at $25,573,000 after purchasing an additional 245,385 shares during the last quarter. Millennium Management LLC increased its position in shares of Seadrill by 100.9% during 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Seadrill by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,711 shares of the oil and gas company's stock valued at $1,546,000 after purchasing an additional 2,174 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Seadrill during the 4th quarter valued at $1,300,000. 95.67% of the stock is currently owned by institutional investors.

Seadrill Price Performance

NYSE SDRL traded down $0.60 during trading hours on Friday, hitting $24.23. The company had a trading volume of 368,929 shares, compared to its average volume of 965,326. Seadrill Limited has a 52 week low of $17.74 and a 52 week high of $56.46. The firm has a 50 day simple moving average of $22.59 and a 200 day simple moving average of $31.35. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.53 and a current ratio of 2.53. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 4.22 and a beta of 1.48.

Seadrill (NYSE:SDRL - Get Free Report) last issued its 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 company had revenue of $335.00 million during the quarter, compared to the consensus estimate of $325.69 million. Equities research analysts expect that Seadrill Limited will post 1.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SDRL shares. 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 decreased their price objective on Seadrill from $46.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Finally, BTIG Research set a $28.00 price objective on Seadrill in a 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.