Seadrill Limited $SDRL Stock Position Reduced by SummitTX Capital L.P.

SummitTX Capital L.P. lessened its stake in Seadrill Limited (NYSE:SDRL) by 95.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,890 shares of the oil and gas company’s stock after selling 299,495 shares during the quarter. SummitTX Capital L.P.’s holdings in Seadrill were worth $586,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SDRL. Dimensional Fund Advisors LP grew its holdings in shares of Seadrill by 10.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,553,281 shares of the oil and gas company’s stock valued at $161,671,000 after acquiring an additional 326,835 shares in the last quarter. Hosking Partners LLP increased its stake in shares of Seadrill by 14.6% in the fourth quarter. Hosking Partners LLP now owns 714,150 shares of the oil and gas company’s stock worth $24,710,000 after acquiring an additional 91,175 shares during the last quarter. Goehring & Rozencwajg Associates LLC raised its holdings in shares of Seadrill by 27.6% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,449,565 shares of the oil and gas company’s stock worth $111,455,000 after acquiring an additional 529,884 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Seadrill by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,807,933 shares of the oil and gas company’s stock worth $131,754,000 after acquiring an additional 23,672 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Seadrill during the fourth quarter worth $1,392,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SDRL. Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Citigroup upped their target price on Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Capital One Financial set a $55.00 price target on Seadrill and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Barclays upgraded Seadrill from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $59.00 in a report on Thursday, May 7th. Finally, BTIG Research boosted their price target on Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Stock Up 3.6%

Seadrill stock opened at $44.78 on Friday. The company has a market capitalization of $2.80 billion, a P/E ratio of -39.99 and a beta of 1.27. The firm’s fifty day simple moving average is $42.67 and its 200-day simple moving average is $43.69. 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 Limited has a 1-year low of $27.40 and a 1-year high of $55.47.

Seadrill (NYSE:SDRL) last released its quarterly earnings data 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). The business had revenue of $358.00 million during the quarter, compared to analyst estimates of $326.75 million. Seadrill had a negative net margin of 4.79% and a negative return on equity of 1.84%. Sell-side analysts forecast that Seadrill Limited will post 0.37 earnings per share for the current fiscal year.

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.