Rhumbline Advisers Has $2.46 Million Position in Seadrill Limited (NYSE:SDRL)

Rhumbline Advisers decreased its stake in Seadrill Limited (NYSE:SDRL) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,383 shares of the oil and gas company’s stock after selling 4,822 shares during the period. Rhumbline Advisers owned 0.13% of Seadrill worth $2,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Seadrill by 12.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,459,524 shares of the oil and gas company’s stock worth $134,677,000 after purchasing an additional 384,471 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Seadrill by 10.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,429,169 shares of the oil and gas company’s stock worth $133,498,000 after acquiring an additional 320,392 shares during the last quarter. Condire Management LP boosted its stake in Seadrill by 18.2% in the fourth quarter. Condire Management LP now owns 3,039,615 shares of the oil and gas company’s stock worth $118,332,000 after buying an additional 467,623 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Seadrill during the 4th quarter valued at $66,400,000. Finally, Patient Capital Management LLC grew its holdings in shares of Seadrill by 63.5% during the 4th quarter. Patient Capital Management LLC now owns 1,676,777 shares of the oil and gas company’s stock worth $65,277,000 after acquiring an additional 651,132 shares during the period. Institutional investors own 95.67% of the company’s stock.

Seadrill Trading Down 0.2%

Shares of SDRL stock opened at $29.11 on Tuesday. The stock has a fifty day moving average of $23.15 and a two-hundred day moving average of $29.15. The firm has a market capitalization of $1.81 billion, a PE ratio of 5.07 and a beta of 1.55. 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 1 year low of $17.74 and a 1 year high of $56.46.

Seadrill (NYSE:SDRL) last posted its quarterly earnings data on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.48). The company had revenue of $335.00 million for the quarter, compared to analyst estimates of $325.69 million. Seadrill had a return on equity of 7.24% and a net margin of 27.79%. As a group, research analysts expect that Seadrill Limited will post 1.86 EPS for the current year.

Analyst Upgrades and Downgrades

SDRL has been the subject of several recent analyst reports. BWS Financial reaffirmed a “buy” rating and issued a $80.00 target price on shares of Seadrill in a report on Tuesday, May 13th. BTIG Research set a $28.00 target price on shares of Seadrill in a research note on Monday, May 5th. Finally, Citigroup cut their target price on Seadrill from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th.

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.