Corigliano Investment Advisers LLC Increases Stock Holdings in Seadrill Limited $SDRL

Corigliano Investment Advisers LLC lifted its position in Seadrill Limited (NYSE:SDRL) by 45.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,835 shares of the oil and gas company’s stock after acquiring an additional 36,235 shares during the quarter. Seadrill makes up approximately 1.4% of Corigliano Investment Advisers LLC’s portfolio, making the stock its 21st largest position. Corigliano Investment Advisers LLC owned about 0.19% of Seadrill worth $4,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SDRL. Boothbay Fund Management LLC increased its position in shares of Seadrill by 150.8% during the 4th quarter. Boothbay Fund Management LLC now owns 35,382 shares of the oil and gas company’s stock valued at $1,224,000 after purchasing an additional 21,272 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Seadrill by 8.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 413,721 shares of the oil and gas company’s stock valued at $14,315,000 after purchasing an additional 33,787 shares during the period. Sagefield Capital LP lifted its position in shares of Seadrill by 21.0% during the fourth quarter. Sagefield Capital LP now owns 921,275 shares of the oil and gas company’s stock worth $31,876,000 after acquiring an additional 159,789 shares in the last quarter. Trexquant Investment LP lifted its holdings in Seadrill by 12.6% during the 4th quarter. Trexquant Investment LP now owns 80,284 shares of the oil and gas company’s stock worth $2,778,000 after purchasing an additional 9,014 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Seadrill by 12.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,484,940 shares of the oil and gas company’s stock worth $120,579,000 after buying an additional 373,176 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Seadrill Price Performance

Shares of NYSE SDRL opened at $40.13 on Thursday. The company has a 50 day simple moving average of $47.86 and a two-hundred day simple moving average of $41.91. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -35.83 and a beta of 1.19. Seadrill Limited has a fifty-two week low of $25.48 and a fifty-two week high of $55.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.94 and a current ratio of 1.94.

Seadrill (NYSE:SDRL) last released its 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 the consensus estimate of $326.75 million. Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%. Analysts expect that Seadrill Limited will post 0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

SDRL has been the topic of a number of recent analyst reports. Fearnley Fonds upgraded Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. BTIG Research boosted their price objective on shares of Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Citigroup raised their price target on shares of Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Finally, BWS Financial reiterated a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research report on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Seadrill Company Profile

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.