Seadrill Limited (NYSE:SDRL) Shares Sold by Cohen & Steers Inc.

Cohen & Steers Inc. lessened its stake in Seadrill Limited (NYSE:SDRL - Free Report) by 66.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,828 shares of the oil and gas company's stock after selling 50,207 shares during the quarter. Cohen & Steers Inc.'s holdings in Seadrill were worth $967,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new position in Seadrill in the 4th quarter valued at about $33,104,000. Barclays PLC raised its position in shares of Seadrill by 48.5% during the 3rd quarter. Barclays PLC now owns 930,942 shares of the oil and gas company's stock valued at $36,996,000 after buying an additional 303,839 shares during the period. Packer & Co Ltd purchased a new stake in shares of Seadrill during the 4th quarter valued at approximately $9,619,000. American Century Companies Inc. lifted its holdings in Seadrill by 327.3% in the fourth quarter. American Century Companies Inc. now owns 232,225 shares of the oil and gas company's stock valued at $9,041,000 after acquiring an additional 177,881 shares during the last quarter. Finally, Hosking Partners LLP grew its position in Seadrill by 30.7% in the fourth quarter. Hosking Partners LLP now owns 523,816 shares of the oil and gas company's stock worth $20,392,000 after acquiring an additional 122,941 shares during the period. Institutional investors and hedge funds own 95.67% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BWS Financial restated a "buy" rating and issued a $80.00 target price on shares of Seadrill in a research report on Monday, March 3rd. Citigroup decreased their target price on shares of Seadrill from $46.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $62.00.

Seadrill Price Performance

Shares of NYSE:SDRL traded up $1.56 on Friday, hitting $20.93. The company had a trading volume of 1,187,581 shares, compared to its average volume of 946,815. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $56.46. The company has a market cap of $1.30 billion, a PE ratio of 3.65 and a beta of 1.41. The business has a 50 day moving average of $24.62 and a 200 day moving average of $33.50. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The oil and gas company reported $1.07 earnings per share (EPS) 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 firm had revenue of $289.00 million for the quarter, compared to analyst estimates of $299.50 million. As a group, equities analysts anticipate that Seadrill Limited will post 1.86 earnings per share for the current fiscal 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.