Man Group plc Buys Shares of 386,929 Seadrill Limited $SDRL

Man Group plc purchased a new position in shares of Seadrill Limited (NYSE:SDRL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 386,929 shares of the oil and gas company’s stock, valued at approximately $14,634,000.

Several other institutional investors and hedge funds have also made changes to their positions in SDRL. Raymond James Financial Inc. purchased a new stake in Seadrill during the 2nd quarter worth about $27,000. EverSource Wealth Advisors LLC purchased a new position in Seadrill in the 2nd quarter valued at about $42,000. Aquatic Capital Management LLC purchased a new stake in shares of Seadrill during the third quarter worth about $44,000. State of Wyoming purchased a new stake in shares of Seadrill during the second quarter worth about $55,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Seadrill in the third quarter valued at approximately $61,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SDRL shares. Barclays raised shares of Seadrill from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $41.00 to $59.00 in a research note on Thursday, May 7th. Capital One Financial set a $55.00 price target on Seadrill and gave the company an “overweight” rating in a report on Wednesday, July 1st. BWS Financial reissued a “buy” rating and set a $80.00 price target on shares of Seadrill in a research note on Tuesday, August 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a report on Tuesday, June 30th. Finally, Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Three equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat, Seadrill currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Stock Performance

Shares of SDRL stock opened at $48.50 on Friday. The company’s fifty day simple moving average is $42.92 and its 200-day simple moving average is $44.89. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. Seadrill Limited has a 52 week low of $28.10 and a 52 week high of $55.47. The company has a market cap of $3.03 billion, a PE ratio of 1,616.73 and a beta of 1.21.

Seadrill (NYSE:SDRL) last issued its earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.18. The company had revenue of $430.00 million during the quarter, compared to the consensus estimate of $388.46 million. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. As a group, equities research analysts anticipate that Seadrill Limited will post 0.37 EPS for the current year.

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.