Seadrill Limited (NYSE:SDRL) Stock Position Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Seadrill Limited (NYSE:SDRL) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,666 shares of the oil and gas company’s stock after acquiring an additional 863 shares during the period. Principal Financial Group Inc. owned 0.08% of Seadrill worth $1,192,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SDRL. Ameriprise Financial Inc. acquired a new stake in shares of Seadrill in the fourth quarter worth $409,000. Exchange Traded Concepts LLC raised its stake in Seadrill by 547.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 15,615 shares of the oil and gas company’s stock valued at $390,000 after purchasing an additional 13,204 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Seadrill by 134.8% during the 4th quarter. JPMorgan Chase & Co. now owns 206,738 shares of the oil and gas company’s stock valued at $8,048,000 after purchasing an additional 118,699 shares during the last quarter. Third Point LLC bought a new stake in Seadrill in the 4th quarter valued at $39,903,000. Finally, Tudor Investment Corp ET AL bought a new stake in Seadrill in the 4th quarter valued at $3,652,000. 95.67% of the stock is owned by institutional investors.

Seadrill Stock Performance

NYSE:SDRL opened at $28.20 on Friday. The stock’s 50-day moving average is $26.62 and its 200-day moving average is $27.60. Seadrill Limited has a 1-year low of $17.74 and a 1-year high of $56.46. The stock has a market cap of $1.75 billion, a P/E ratio of 5.33 and a beta of 1.60. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL) last announced its earnings results 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). Seadrill had a net margin of 27.49% and a return on equity of 4.68%. The business had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $325.69 million. Equities research analysts anticipate that Seadrill Limited will post 1.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SDRL shares. Citigroup reiterated a “buy” rating and set a $36.00 target price (up previously from $35.00) on shares of Seadrill in a research report on Wednesday, June 18th. BWS Financial reissued a “buy” rating and set a $80.00 price objective on shares of Seadrill in a report on Tuesday, May 13th. Finally, BTIG Research set a $28.00 price objective on shares of Seadrill in a report on Monday, May 5th.

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.