Orvieto Partners L.P. Cuts Stock Position in Seadrill Limited $SDRL

Orvieto Partners L.P. cut its holdings in shares of Seadrill Limited (NYSE:SDRL) by 44.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,000 shares of the oil and gas company’s stock after selling 44,500 shares during the quarter. Seadrill accounts for 2.1% of Orvieto Partners L.P.’s investment portfolio, making the stock its 18th largest position. Orvieto Partners L.P. owned approximately 0.09% of Seadrill worth $2,502,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Seadrill in the second quarter valued at approximately $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Seadrill in the 2nd quarter valued at $42,000. Aquatic Capital Management LLC acquired a new position in Seadrill in the third quarter valued at $44,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Seadrill in the 3rd quarter valued at about $61,000. Finally, Farther Finance Advisors LLC grew its position in shares of Seadrill by 20.2% during the fourth quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock worth $87,000 after acquiring an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SDRL. Fearnley Fonds upgraded shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Barclays raised Seadrill from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $41.00 to $59.00 in a report on Thursday, May 7th. BTIG Research increased their price target on shares of Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Citigroup upped their target price on Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Finally, Capital One Financial set a $55.00 price target on shares of Seadrill and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Three 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Stock Up 1.7%

Shares of NYSE SDRL opened at $45.56 on Friday. The stock has a market capitalization of $2.85 billion, a PE ratio of -40.68 and a beta of 1.27. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $43.87 and a 200-day moving average of $43.40. Seadrill Limited has a 52-week low of $27.40 and a 52-week high of $55.47.

Seadrill (NYSE:SDRL) last released its quarterly earnings data on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Seadrill had a negative net margin of 4.79% and a negative return on equity of 1.84%. The firm had revenue of $358.00 million during the quarter, compared to analyst estimates of $326.75 million. On average, analysts anticipate that Seadrill Limited will post 0.37 EPS for the current 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.