DNB Asset Management AS Boosts Stock Position in Seadrill Limited $SDRL

DNB Asset Management AS raised its position in shares of Seadrill Limited (NYSE:SDRL) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 859,183 shares of the oil and gas company’s stock after purchasing an additional 43,539 shares during the period. DNB Asset Management AS’s holdings in Seadrill were worth $29,728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SDRL. Schf GPE LLC bought a new stake in Seadrill during the 2nd quarter valued at $60,132,000. American Century Companies Inc. raised its position in shares of Seadrill by 64.4% in the 3rd quarter. American Century Companies Inc. now owns 884,430 shares of the oil and gas company’s stock worth $26,719,000 after acquiring an additional 346,409 shares in the last quarter. SIR Capital Management L.P. raised its position in shares of Seadrill by 804.1% in the 3rd quarter. SIR Capital Management L.P. now owns 377,647 shares of the oil and gas company’s stock worth $11,409,000 after acquiring an additional 335,877 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Seadrill by 394,614.3% in the 2nd quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company’s stock worth $5,802,000 after acquiring an additional 220,984 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Seadrill by 90.4% during the 2nd quarter. AQR Capital Management LLC now owns 418,322 shares of the oil and gas company’s stock valued at $10,981,000 after buying an additional 198,644 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SDRL shares. BTIG Research upped their target price on Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Citigroup upped their target price on Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Fearnley Fonds upgraded Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Price Performance

NYSE:SDRL opened at $52.66 on Friday. Seadrill Limited has a one year low of $22.30 and a one year high of $52.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.03 and a current ratio of 1.94. The stock has a market cap of $3.29 billion, a PE ratio of -47.01 and a beta of 1.25. The stock has a 50 day moving average price of $46.54 and a 200 day moving average price of $39.13.

Seadrill (NYSE:SDRL) last posted its quarterly earnings results on Monday, May 11th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $358.00 million during the quarter, compared to analyst estimates of $326.75 million. Seadrill had a negative net margin of 4.79% and a negative return on equity of 1.84%. Equities research analysts expect that Seadrill Limited will post 0.04 EPS for the current fiscal year.

About Seadrill

Seadrill Limited, trading on the New York Stock Exchange under the symbol SDRL, is a leading provider of offshore drilling services to the global oil and gas industry. The company specializes in the design, construction, deployment and operation of mobile offshore drilling units, serving major exploration and production companies with turnkey drilling solutions.

Seadrill’s fleet comprises ultra-deepwater drillships, semi-submersible rigs and high-specification jack-up units capable of operating in some of the world’s most challenging offshore environments.