Seadrill Limited $SDRL Shares Sold by Empowered Funds LLC

Empowered Funds LLC reduced its stake in shares of Seadrill Limited (NYSE:SDRL) by 7.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,749 shares of the oil and gas company’s stock after selling 19,882 shares during the quarter. Empowered Funds LLC’s holdings in Seadrill were worth $12,092,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Seadrill during the second quarter valued at $27,000. Aquatic Capital Management LLC acquired a new stake in shares of Seadrill in the 3rd quarter worth about $44,000. EverSource Wealth Advisors LLC bought a new stake in Seadrill in the 2nd quarter valued at about $42,000. CIBC Private Wealth Group LLC bought a new stake in Seadrill in the 3rd quarter valued at about $61,000. Finally, Farther Finance Advisors LLC boosted its stake in Seadrill by 20.2% during the 4th quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock valued at $87,000 after purchasing an additional 422 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.

Seadrill Stock Performance

Shares of NYSE SDRL opened at $41.31 on Thursday. The stock has a fifty day moving average price of $42.96 and a two-hundred day moving average price of $43.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.94 and a current ratio of 1.94. The firm has a market cap of $2.58 billion, a P/E ratio of -36.89 and a beta of 1.27. Seadrill Limited has a 1 year low of $27.40 and a 1 year high of $55.47.

Seadrill (NYSE:SDRL) last posted its quarterly earnings data on Monday, May 11th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $358.00 million during the quarter, compared to the consensus estimate of $326.75 million. Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%. Research analysts forecast that Seadrill Limited will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SDRL. Capital One Financial set a $55.00 price target on shares of Seadrill and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. BWS Financial reissued a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a report on Monday, June 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a research report on Tuesday, June 30th. Finally, BTIG Research lifted their target price on Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Seadrill currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Seadrill 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.