Seadrill Limited $SDRL Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its holdings in Seadrill Limited (NYSE:SDRL) by 41.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,561 shares of the oil and gas company’s stock after selling 91,479 shares during the period. Federated Hermes Inc. owned about 0.21% of Seadrill worth $3,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in Seadrill in the second quarter worth approximately $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Seadrill in the 2nd quarter worth $42,000. Farther Finance Advisors LLC grew its holdings in shares of Seadrill by 34.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,743 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 443 shares during the last quarter. Signaturefd LLC raised its position in shares of Seadrill by 679.3% during the second quarter. Signaturefd LLC now owns 1,886 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 1,644 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Seadrill during the third quarter valued at $68,000. 95.67% of the stock is currently owned by institutional investors.

Seadrill Trading Up 1.3%

NYSE SDRL opened at $38.79 on Wednesday. The company has a market capitalization of $2.42 billion, a PE ratio of 84.33 and a beta of 1.54. Seadrill Limited has a 1-year low of $17.74 and a 1-year high of $40.16. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21. The firm’s fifty day simple moving average is $34.10 and its 200-day simple moving average is $31.89.

Seadrill (NYSE:SDRL) last issued its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.43). The firm had revenue of $363.00 million during the quarter, compared to analyst estimates of $343.56 million. Seadrill had a return on equity of 0.10% and a net margin of 2.49%. As a group, sell-side analysts anticipate that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

SDRL has been the subject of several recent analyst reports. Dnb Carnegie upgraded shares of Seadrill to a “strong-buy” rating in a report on Tuesday, November 4th. Citigroup lowered shares of Seadrill from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $35.00 to $32.00 in a research note on Monday, January 12th. Weiss Ratings downgraded shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. BWS Financial reaffirmed a “buy” rating and issued a $80.00 target price on shares of Seadrill in a research report on Friday, January 23rd. Finally, Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.60.

Seadrill Profile

Seadrill Limited, trading on the New York Stock Exchange under the symbol SDRL, is a leading provider of offshore drilling services to the global oil and gas industry. The company specializes in the design, construction, deployment and operation of mobile offshore drilling units, serving major exploration and production companies with turnkey drilling solutions.

Seadrill’s fleet comprises ultra-deepwater drillships, semi-submersible rigs and high-specification jack-up units capable of operating in some of the world’s most challenging offshore environments.