MetLife Investment Management LLC Raises Stock Holdings in Seadrill Limited (NYSE:SDRL)

MetLife Investment Management LLC lifted its holdings in shares of Seadrill Limited (NYSE:SDRL) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,776 shares of the oil and gas company’s stock after acquiring an additional 2,681 shares during the period. MetLife Investment Management LLC’s holdings in Seadrill were worth $1,626,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new position in Seadrill during the 4th quarter worth $28,000. Sterling Capital Management LLC grew its holdings in shares of Seadrill by 756.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,567 shares of the oil and gas company’s stock worth $61,000 after buying an additional 1,384 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Seadrill by 10.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 354 shares during the period. Cibc World Markets Corp purchased a new stake in Seadrill during the 4th quarter valued at approximately $253,000. Finally, Summit Investment Advisors Inc. grew its stake in shares of Seadrill by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,268 shares of the oil and gas company’s stock valued at $283,000 after purchasing an additional 325 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SDRL shares. Citigroup cut their price target on Seadrill from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. BWS Financial reissued a “buy” rating and issued a $80.00 price target on shares of Seadrill in a report on Monday, March 3rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Seadrill currently has a consensus rating of “Buy” and an average price target of $62.00.

Seadrill Trading Up 4.4 %

Shares of SDRL opened at $20.99 on Wednesday. The firm’s 50-day moving average is $23.33 and its two-hundred day moving average is $32.66. Seadrill Limited has a twelve month low of $17.74 and a twelve month high of $56.46. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.30 billion, a P/E ratio of 3.66 and a beta of 1.41.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Wednesday, February 26th. The oil and gas company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $1.41. The business had revenue of $289.00 million for the quarter, compared to analysts’ expectations of $299.50 million. Seadrill had a return on equity of 7.24% and a net margin of 27.79%. On average, research analysts predict that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

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.