Lloyd Harbor Capital Management LLC Buys New Stake in Seadrill Limited (NYSE:SDRL)

Lloyd Harbor Capital Management LLC bought a new stake in shares of Seadrill Limited (NYSE:SDRL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 200,000 shares of the oil and gas company’s stock, valued at approximately $7,786,000. Seadrill comprises approximately 5.1% of Lloyd Harbor Capital Management LLC’s portfolio, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of Seadrill in the fourth quarter worth $28,000. Sterling Capital Management LLC raised its holdings in shares of Seadrill by 756.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,567 shares of the oil and gas company’s stock worth $61,000 after buying an additional 1,384 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Seadrill by 10.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company’s stock worth $146,000 after buying an additional 354 shares during the last quarter. Crestline Management LP purchased a new position in shares of Seadrill in the fourth quarter worth $216,000. Finally, Cibc World Markets Corp purchased a new position in shares of Seadrill in the fourth quarter worth $253,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SDRL shares. BTIG Research set a $28.00 price objective on shares of Seadrill in a research note on Monday, May 5th. BWS Financial reissued a “buy” rating and set a $80.00 target price on shares of Seadrill in a report on Monday, March 3rd. Finally, Citigroup reduced their target price on shares of Seadrill from $46.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $55.20.

Seadrill Trading Up 0.5%

Shares of Seadrill stock opened at $23.93 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 2.53. The firm has a fifty day moving average price of $22.51 and a 200 day moving average price of $31.76. Seadrill Limited has a 1 year low of $17.74 and a 1 year high of $56.46. The stock has a market cap of $1.49 billion, a PE ratio of 4.17 and a beta of 1.48.

Seadrill (NYSE:SDRL) last issued its earnings results on Wednesday, February 26th. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $1.41. The firm had revenue of $289.00 million during the quarter, compared to analysts’ expectations of $299.50 million. Seadrill had a net margin of 27.79% and a return on equity of 7.24%. Equities research analysts predict that Seadrill Limited will post 1.86 earnings per share for the current year.

About Seadrill

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.