JPMorgan Chase & Co. Purchases 118,699 Shares of Seadrill Limited (NYSE:SDRL)

JPMorgan Chase & Co. grew its holdings in shares of Seadrill Limited (NYSE:SDRL) by 134.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,738 shares of the oil and gas company’s stock after acquiring an additional 118,699 shares during the period. JPMorgan Chase & Co. owned 0.28% of Seadrill worth $8,048,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its stake in Seadrill by 10.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 354 shares during the period. Cibc World Markets Corp bought a new stake in shares of Seadrill in the 4th quarter valued at $253,000. Entropy Technologies LP acquired a new position in shares of Seadrill during the 4th quarter valued at $288,000. Janney Montgomery Scott LLC bought a new position in Seadrill during the fourth quarter worth $517,000. Finally, HighTower Advisors LLC acquired a new stake in Seadrill in the fourth quarter worth $533,000. Institutional investors own 95.67% of the company’s stock.

Seadrill Price Performance

Shares of NYSE SDRL opened at $18.99 on Wednesday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 3.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.53 and a current ratio of 2.53. Seadrill Limited has a fifty-two week low of $17.74 and a fifty-two week high of $56.46. The firm’s 50-day simple moving average is $25.68 and its 200 day simple moving average is $34.00.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BWS Financial reiterated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a report on Monday, March 3rd. Citigroup reduced their price objective on Seadrill from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $62.00.

About Seadrill

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.