SIR Capital Management L.P. Sells 223,448 Shares of Seadrill Limited $SDRL

SIR Capital Management L.P. reduced its stake in Seadrill Limited (NYSE:SDRL) by 59.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,199 shares of the oil and gas company’s stock after selling 223,448 shares during the quarter. SIR Capital Management L.P.’s holdings in Seadrill were worth $5,335,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SDRL. Russell Investments Group Ltd. lifted its position in Seadrill by 23.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company’s stock valued at $1,012,000 after acquiring an additional 7,233 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Seadrill in the 2nd quarter valued at $42,000. Federated Hermes Inc. lifted its position in 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 valued at $5,802,000 after acquiring an additional 220,984 shares in the last quarter. Cerity Partners LLC bought a new stake in Seadrill in the 2nd quarter valued at $696,000. Finally, Sei Investments Co. bought a new stake in Seadrill in the 2nd quarter valued at $375,000. 95.67% of the stock is owned by institutional investors.

Seadrill Trading Up 0.0%

Shares of NYSE:SDRL opened at $44.40 on Friday. The company’s 50-day moving average price is $48.18 and its two-hundred day moving average price is $41.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.94 and a quick ratio of 1.94. Seadrill Limited has a one year low of $25.48 and a one year high of $55.47. The stock has a market capitalization of $2.78 billion, a PE ratio of -39.64 and a beta of 1.19.

Seadrill (NYSE:SDRL) last issued 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). Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%.The business had revenue of $358.00 million for the quarter, compared to the consensus estimate of $326.75 million. On average, equities analysts forecast that Seadrill Limited will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SDRL has been the topic of several research reports. Fearnley Fonds raised shares of 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 company a “buy” rating in a research report on Friday, April 17th. Wall Street Zen raised shares of Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Seadrill in a research report on Thursday, April 2nd. Finally, Citigroup boosted their price objective on shares of Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.00.

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.