Walleye Capital LLC Sells 824,568 Shares of Seadrill Limited $SDRL

Walleye Capital LLC lowered its holdings in shares of Seadrill Limited (NYSE:SDRL) by 88.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 104,524 shares of the oil and gas company’s stock after selling 824,568 shares during the quarter. Walleye Capital LLC’s holdings in Seadrill were worth $4,756,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Seadrill by 20.2% in the 4th quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 422 shares during the period. Osaic Holdings Inc. grew its position in Seadrill by 18.8% during the second quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock valued at $92,000 after buying an additional 558 shares during the period. Swiss National Bank grew its position in Seadrill by 0.5% during the first quarter. Swiss National Bank now owns 117,200 shares of the oil and gas company’s stock valued at $5,333,000 after buying an additional 600 shares during the period. Alliancebernstein L.P. increased its holdings in Seadrill by 1.0% during the third quarter. Alliancebernstein L.P. now owns 72,020 shares of the oil and gas company’s stock valued at $2,176,000 after buying an additional 700 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Seadrill by 4.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,556 shares of the oil and gas company’s stock valued at $642,000 after buying an additional 716 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Seadrill Price Performance

NYSE SDRL opened at $44.95 on Thursday. Seadrill Limited has a 12 month low of $27.40 and a 12 month high of $55.47. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -40.13 and a beta of 1.27. The company’s 50 day moving average is $43.98 and its two-hundred day moving average is $43.33. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.22.

Seadrill (NYSE:SDRL) last issued its quarterly earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $358.00 million for the quarter, compared to analysts’ expectations of $326.75 million. Seadrill had a negative net margin of 4.79% and a negative return on equity of 1.84%. As a group, research analysts anticipate that Seadrill Limited will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on SDRL. Barclays upgraded shares of Seadrill from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $59.00 in a research report on Thursday, May 7th. Fearnley Fonds raised shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. BTIG Research upped their price objective on Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Seadrill in a report on Tuesday, June 30th. Finally, BWS Financial reissued a “buy” rating and set a $80.00 price target on shares of Seadrill in a report on Monday, June 29th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Seadrill has an average rating of “Moderate Buy” and a consensus target price of $55.00.

About Seadrill

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.