Ieq Capital LLC Invests $640,000 in Seadrill Limited $SDRL

Ieq Capital LLC acquired a new stake in Seadrill Limited (NYSE:SDRL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,934 shares of the oil and gas company’s stock, valued at approximately $640,000.

Other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in Seadrill by 23.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company’s stock worth $1,012,000 after purchasing an additional 7,233 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Seadrill during the 2nd quarter valued at $42,000. Federated Hermes Inc. increased its holdings in shares of Seadrill by 394,614.3% in the second quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company’s stock worth $5,802,000 after purchasing an additional 220,984 shares during the period. Cerity Partners LLC bought a new position in shares of Seadrill in the second quarter worth $696,000. Finally, Sei Investments Co. purchased a new stake in shares of Seadrill in the second quarter worth $375,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a research note on Tuesday, June 30th. Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Barclays raised Seadrill from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $59.00 in a report on Thursday, May 7th. Capital One Financial set a $55.00 price objective on Seadrill and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Finally, BWS Financial restated a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research report on Tuesday, August 11th. 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 issued a Sell rating to the stock. According to MarketBeat, Seadrill presently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Stock Down 1.6%

Shares of NYSE:SDRL opened at $47.59 on Friday. Seadrill Limited has a 52-week low of $28.10 and a 52-week high of $55.47. The firm has a fifty day moving average of $43.10 and a 200 day moving average of $44.90. The firm has a market capitalization of $2.98 billion, a PE ratio of 1,586.33 and a beta of 1.21. 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 (NYSE:SDRL) last announced its quarterly earnings data on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.29 by $0.18. The firm had revenue of $430.00 million for the quarter, compared to analyst estimates of $388.46 million. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. As a group, research analysts anticipate that Seadrill Limited will post 0.37 EPS 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.