Healthcare of Ontario Pension Plan Trust Fund Boosts Stake in Seadrill Limited $SDRL

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Seadrill Limited (NYSE:SDRL) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 342,645 shares of the oil and gas company’s stock after acquiring an additional 11,774 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Seadrill were worth $15,590,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Seadrill during the 2nd quarter worth $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill in the second quarter valued at about $42,000. Aquatic Capital Management LLC purchased a new stake in Seadrill during the third quarter worth about $44,000. CIBC Private Wealth Group LLC purchased a new stake in Seadrill during the third quarter worth about $61,000. Finally, Farther Finance Advisors LLC grew its position in Seadrill by 20.2% during the fourth quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock worth $87,000 after buying an additional 422 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SDRL shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Seadrill in a report on Tuesday, June 30th. Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup upped their price target on Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. BTIG Research lifted their price objective on Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Seadrill presently has an average rating of “Moderate Buy” and an average price target of $55.00.

Seadrill Stock Performance

NYSE:SDRL opened at $42.95 on Tuesday. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.69 billion, a P/E ratio of -38.34 and a beta of 1.27. The firm has a 50-day moving average price of $43.48 and a two-hundred day moving average price of $43.54. Seadrill Limited has a twelve month low of $27.40 and a twelve month high of $55.47.

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

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.