Soviero Asset Management LP Acquires Shares of 110,000 Seadrill Limited (NYSE:SDRL)

Soviero Asset Management LP acquired a new stake in shares of Seadrill Limited (NYSE:SDRL) during the fourth quarter, Holdings Channel reports. The firm acquired 110,000 shares of the oil and gas company’s stock, valued at approximately $4,282,000. Seadrill accounts for approximately 2.7% of Soviero Asset Management LP’s holdings, making the stock its 13th largest position.

Other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Seadrill during the fourth quarter valued at approximately $28,000. Sterling Capital Management LLC boosted its holdings in Seadrill by 756.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,567 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 1,384 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Seadrill by 10.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 354 shares in the last quarter. Crestline Management LP acquired a new stake in Seadrill during the fourth quarter valued at approximately $216,000. Finally, Cibc World Markets Corp acquired a new stake in Seadrill during the fourth quarter valued at approximately $253,000. 95.67% of the stock is owned by institutional investors and hedge funds.

Seadrill Stock Down 2.4%

Shares of SDRL opened at $24.23 on Monday. The company has a market capitalization of $1.51 billion, a P/E ratio of 4.22 and a beta of 1.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 2.53. Seadrill Limited has a one year low of $17.74 and a one year high of $56.46. The business’s 50 day simple moving average is $22.59 and its 200-day simple moving average is $31.31.

Seadrill (NYSE:SDRL) last posted its quarterly earnings data on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.48). Seadrill had a return on equity of 7.24% and a net margin of 27.79%. The company had revenue of $335.00 million during the quarter, compared to the consensus estimate of $325.69 million. As a group, sell-side analysts predict that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

SDRL has been the topic of several recent analyst reports. BTIG Research set a $28.00 target price on Seadrill in a report on Monday, May 5th. Citigroup reduced their target price on Seadrill from $46.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Finally, BWS Financial reissued a “buy” rating and issued a $80.00 target price on shares of Seadrill in a report on Tuesday, May 13th.

Seadrill Company Profile

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.