Rhumbline Advisers Lowers Stock Holdings in Seadrill Limited $SDRL

Rhumbline Advisers trimmed its holdings in shares of Seadrill Limited (NYSE:SDRL) by 4.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 98,383 shares of the oil and gas company’s stock after selling 4,822 shares during the period. Rhumbline Advisers owned approximately 0.16% of Seadrill worth $2,460,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. State of Wyoming raised its holdings in Seadrill by 9.8% in the 1st quarter. State of Wyoming now owns 5,162 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 462 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Seadrill by 254.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,133 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 813 shares during the last quarter. CWM LLC raised its holdings in Seadrill by 30.8% in the 1st quarter. CWM LLC now owns 3,585 shares of the oil and gas company’s stock worth $90,000 after acquiring an additional 845 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Seadrill by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 47,666 shares of the oil and gas company’s stock worth $1,192,000 after acquiring an additional 863 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Seadrill by 7.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,241 shares of the oil and gas company’s stock worth $356,000 after acquiring an additional 973 shares during the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Seadrill Trading Up 3.2%

Shares of SDRL stock opened at $34.06 on Wednesday. Seadrill Limited has a 1 year low of $17.74 and a 1 year high of $42.41. The firm has a fifty day moving average price of $30.41 and a 200-day moving average price of $26.30. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 30.41 and a beta of 1.62.

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

Analyst Upgrades and Downgrades

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

Seadrill Company Profile

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.