Third Point LLC Acquires New Holdings in Seadrill Limited (NYSE:SDRL)

Third Point LLC purchased a new position in shares of Seadrill Limited (NYSE:SDRL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,025,000 shares of the oil and gas company's stock, valued at approximately $39,903,000. Third Point LLC owned approximately 1.39% of Seadrill as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SDRL. Headlands Technologies LLC bought a new stake in shares of Seadrill during the fourth quarter valued at approximately $28,000. Sterling Capital Management LLC boosted its stake in Seadrill by 756.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,567 shares of the oil and gas company's stock valued at $61,000 after purchasing an additional 1,384 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings 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 worth $146,000 after purchasing an additional 354 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Seadrill in the fourth quarter valued at approximately $253,000. Finally, Summit Investment Advisors Inc. grew its holdings in Seadrill by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,268 shares of the oil and gas company's stock worth $283,000 after buying an additional 325 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Seadrill Stock Performance

Shares of NYSE:SDRL traded up $0.14 during mid-day trading on Friday, reaching $22.53. The company had a trading volume of 820,761 shares, compared to its average volume of 958,098. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 3.93 and a beta of 1.41. Seadrill Limited has a one year low of $17.74 and a one year high of $56.46. The company's 50-day moving average price is $22.70 and its 200-day moving average price is $32.25.

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

Analysts Set New Price Targets

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