Patient Capital Management LLC Invests $73.88 Million in Seadrill Limited $SDRL

Patient Capital Management LLC bought a new stake in Seadrill Limited (NYSE:SDRL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,953,355 shares of the oil and gas company’s stock, valued at approximately $73,876,000. Seadrill accounts for about 2.4% of Patient Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Seadrill during the 2nd quarter worth $207,509,000. Schf GPE LLC acquired a new position in Seadrill in the 2nd quarter worth $60,132,000. Elliott Investment Management L.P. boosted its position in Seadrill by 23.1% in the 4th quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock valued at $157,733,000 after buying an additional 855,012 shares during the last quarter. Thomist Capital Management LP boosted its position in Seadrill by 44.6% in the 4th quarter. Thomist Capital Management LP now owns 1,835,718 shares of the oil and gas company’s stock valued at $63,387,000 after buying an additional 566,419 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC grew its stake 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 valued at $111,455,000 after acquiring an additional 529,884 shares in the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Seadrill Stock Performance

Shares of SDRL stock opened at $47.39 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. Seadrill Limited has a one year low of $28.10 and a one year high of $55.47. The company’s 50-day simple moving average is $42.37 and its 200-day simple moving average is $44.66. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 1,579.67 and a beta of 1.21.

Seadrill (NYSE:SDRL) last posted its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.18. The business had revenue of $430.00 million during the quarter, compared to the consensus estimate of $388.46 million. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. Equities analysts anticipate that Seadrill Limited will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SDRL has been the topic of a number of analyst reports. Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Barclays upgraded Seadrill from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $59.00 in a research note on Thursday, May 7th. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Capital One Financial set a $55.00 target price on Seadrill and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a research report on Tuesday, June 30th. Three 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

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.