AQR Capital Management LLC Has $5.49 Million Holdings in Seadrill Limited $SDRL

AQR Capital Management LLC raised its holdings in Seadrill Limited (NYSE:SDRL) by 333.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 219,678 shares of the oil and gas company’s stock after acquiring an additional 169,014 shares during the period. AQR Capital Management LLC owned about 0.35% of Seadrill worth $5,492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. 683 Capital Management LLC bought a new position in Seadrill in the first quarter valued at about $1,500,000. Adage Capital Partners GP L.L.C. grew its position in Seadrill by 22.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,200,535 shares of the oil and gas company’s stock valued at $105,013,000 after acquiring an additional 771,366 shares during the last quarter. Maverick Capital Ltd. grew its position in Seadrill by 189.0% in the first quarter. Maverick Capital Ltd. now owns 22,572 shares of the oil and gas company’s stock valued at $564,000 after acquiring an additional 14,761 shares during the last quarter. Caption Management LLC bought a new position in Seadrill in the first quarter valued at about $685,000. Finally, Corsair Capital Management L.P. bought a new position in Seadrill in the first quarter valued at about $175,000. Institutional investors own 95.67% of the company’s stock.

Seadrill Stock Performance

NYSE:SDRL opened at $32.82 on Friday. The stock has a market cap of $2.04 billion, a P/E ratio of 29.30 and a beta of 1.62. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average is $30.26 and its 200-day moving average is $26.24. Seadrill Limited has a 1-year low of $17.74 and a 1-year high of $42.41.

Seadrill (NYSE:SDRL) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($1.36). The company had revenue of $377.00 million during the quarter, compared to analyst estimates of $365.73 million. Seadrill had a return on equity of 1.58% and a net margin of 5.68%. Equities research analysts anticipate that Seadrill Limited will post 1.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on SDRL shares. SEB Equity Research set a $33.00 target price on Seadrill in a research report on Monday, September 1st. Zacks Research upgraded Seadrill to a “strong sell” rating in a research report on Tuesday, August 12th. Fearnley Fonds cut Seadrill from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Finally, Citigroup boosted their price target on Seadrill from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.25.

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.