Dockside LLC Acquires New Stake in Seadrill Limited $SDRL

Dockside LLC acquired a new stake in Seadrill Limited (NYSE:SDRL) during the fourth quarter, HoldingsChannel reports. The fund acquired 160,754 shares of the oil and gas company’s stock, valued at approximately $5,562,000. Seadrill makes up about 1.4% of Dockside LLC’s holdings, making the stock its 13th largest holding.

Several other institutional investors also recently made changes to their positions in SDRL. Schf GPE LLC purchased a new stake in shares of Seadrill during the 2nd quarter worth $60,132,000. Thomist Capital Management LP boosted its position in shares of Seadrill by 44.6% during the 4th quarter. Thomist Capital Management LP now owns 1,835,718 shares of the oil and gas company’s stock worth $63,387,000 after purchasing an additional 566,419 shares in the last quarter. Barclays PLC boosted its position in shares of Seadrill by 123.2% during the 4th quarter. Barclays PLC now owns 704,039 shares of the oil and gas company’s stock worth $24,360,000 after purchasing an additional 388,634 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Seadrill by 64.4% during the 3rd quarter. American Century Companies Inc. now owns 884,430 shares of the oil and gas company’s stock worth $26,719,000 after purchasing an additional 346,409 shares in the last quarter. Finally, SIR Capital Management L.P. boosted its position in shares of Seadrill by 804.1% during the 3rd quarter. SIR Capital Management L.P. now owns 377,647 shares of the oil and gas company’s stock worth $11,409,000 after purchasing an additional 335,877 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Seadrill Price Performance

Seadrill stock opened at $44.40 on Friday. Seadrill Limited has a 52 week low of $25.48 and a 52 week high of $55.47. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $48.18 and its 200 day simple moving average is $41.60. The firm has a market capitalization of $2.78 billion, a PE ratio of -39.64 and a beta of 1.19.

Seadrill (NYSE:SDRL) last released its quarterly earnings data on Monday, May 11th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%.The business had revenue of $358.00 million during the quarter, compared to analysts’ expectations of $326.75 million. On average, equities research analysts predict that Seadrill Limited will post 0.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on SDRL shares. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a research report on Thursday, April 2nd. Citigroup boosted their target price on shares of Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. BWS Financial restated a “buy” rating and set a $80.00 target price on shares of Seadrill in a research report on Tuesday, April 7th. BTIG Research boosted their target price on shares of Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, Wall Street Zen upgraded shares of Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Seadrill has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Seadrill Company Profile

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.