Seadrill Limited $SDRL Holdings Boosted by Corsair Capital Management L.P.

Corsair Capital Management L.P. grew its holdings in Seadrill Limited (NYSE:SDRL) by 71.4% in the second quarter, Holdings Channel.com reports. The firm owned 12,000 shares of the oil and gas company’s stock after purchasing an additional 5,000 shares during the period. Corsair Capital Management L.P.’s holdings in Seadrill were worth $315,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Russell Investments Group Ltd. grew its holdings in shares of Seadrill by 23.1% during the second quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company’s stock valued at $1,012,000 after buying an additional 7,233 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Seadrill by 18.0% in the 2nd quarter. American Century Companies Inc. now owns 538,021 shares of the oil and gas company’s stock valued at $14,123,000 after purchasing an additional 82,138 shares during the period. Legal & General Group Plc lifted its position in shares of Seadrill by 554.6% in the second quarter. Legal & General Group Plc now owns 69,010 shares of the oil and gas company’s stock worth $1,812,000 after purchasing an additional 58,467 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Seadrill by 498.2% during the second quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock worth $16,140,000 after purchasing an additional 512,074 shares during the period. Finally, DNB Asset Management AS grew its position in Seadrill by 288.4% during the second quarter. DNB Asset Management AS now owns 594,256 shares of the oil and gas company’s stock valued at $15,599,000 after purchasing an additional 441,266 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SDRL. SEB Equity Research set a $33.00 target price on shares of Seadrill in a research note on Monday, September 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Seadrill in a research note on Wednesday, October 8th. Citigroup lifted their price target on Seadrill from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. BWS Financial reissued a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research note on Tuesday, November 11th. Finally, Dnb Carnegie upgraded Seadrill to a “strong-buy” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.00.

Seadrill Price Performance

Shares of NYSE:SDRL opened at $30.27 on Friday. The firm has a market capitalization of $1.89 billion, a PE ratio of 27.03 and a beta of 1.59. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.21. Seadrill Limited has a 1-year low of $17.74 and a 1-year high of $41.25. The business’s 50 day moving average is $30.64 and its 200-day moving average is $29.27.

Seadrill (NYSE:SDRL) last issued its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.43). The firm had revenue of $363.00 million during the quarter, compared to analyst estimates of $343.56 million. Seadrill had a net margin of 5.68% and a return on equity of 1.58%. Seadrill has set its FY 2025 guidance at EPS. Sell-side 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.