Melqart Asset Management UK Ltd Sells 125,672 Shares of Seadrill Limited (NYSE:SDRL)

Melqart Asset Management UK Ltd cut its stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 24.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 383,519 shares of the oil and gas company's stock after selling 125,672 shares during the quarter. Seadrill comprises approximately 1.8% of Melqart Asset Management UK Ltd's portfolio, making the stock its 18th biggest position. Melqart Asset Management UK Ltd owned approximately 0.52% of Seadrill worth $14,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Seadrill during the 4th quarter valued at about $28,000. Sterling Capital Management LLC grew its holdings in shares of 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 valued at $61,000 after buying an additional 1,384 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Seadrill by 10.4% during the fourth 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 in the last quarter. Cibc World Markets Corp purchased a new position in Seadrill in the 4th quarter worth approximately $253,000. Finally, Summit Investment Advisors Inc. lifted its position in Seadrill by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,268 shares of the oil and gas company's stock valued at $283,000 after acquiring an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company's stock.

Seadrill Stock Performance

Shares of SDRL traded down $0.06 during trading hours on Friday, hitting $22.33. The stock had a trading volume of 336,127 shares, compared to its average volume of 953,835. The firm has a market capitalization of $1.39 billion, a PE ratio of 3.89 and a beta of 1.41. 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 Limited has a 12 month low of $17.74 and a 12 month high of $56.46. The stock has a fifty day moving average price of $22.81 and a 200 day moving average price of $32.36.

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 (EPS) for the quarter, beating 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 the consensus estimate of $299.50 million. Analysts anticipate that Seadrill Limited will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

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

Seadrill 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.