Lazard Asset Management LLC Buys New Position in Seadrill Limited (NYSE:SDRL)

Lazard Asset Management LLC purchased a new position in shares of Seadrill Limited (NYSE:SDRL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,411 shares of the oil and gas company’s stock, valued at approximately $1,300,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Seadrill in the 4th quarter worth approximately $28,000. Sterling Capital Management LLC grew its position 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 valued at $61,000 after purchasing an additional 1,384 shares during the period. PNC Financial Services Group Inc. lifted its position 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 worth $146,000 after buying an additional 354 shares during the period. Crestline Management LP purchased a new stake in Seadrill in the 4th quarter valued at about $216,000. Finally, Cibc World Markets Corp acquired a new position in shares of Seadrill during the 4th quarter valued at about $253,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Seadrill Price Performance

SDRL opened at $24.23 on Monday. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $56.46. The company has a 50 day moving average of $22.59 and a two-hundred day moving average of $31.31. The company has a market cap of $1.51 billion, a P/E ratio of 4.22 and a beta of 1.48. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL) last announced its quarterly earnings results on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.48). Seadrill had a net margin of 27.79% and a return on equity of 7.24%. The company had revenue of $335.00 million during the quarter, compared to analyst estimates of $325.69 million. On average, analysts expect that Seadrill Limited will post 1.86 earnings per share for the current year.

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.