Wellington Management Group LLP Purchases Shares of 791,842 Seadrill Limited $SDRL

Wellington Management Group LLP purchased a new stake in shares of Seadrill Limited (NYSE:SDRL) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 791,842 shares of the oil and gas company’s stock, valued at approximately $29,947,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Seadrill in the second quarter worth $207,509,000. Schf GPE LLC bought a new position in Seadrill during the 2nd quarter worth $60,132,000. Patient Capital Management LLC bought a new position in Seadrill during the 2nd quarter worth $73,876,000. Webs Creek Capital Management LP acquired a new position in Seadrill during the 2nd quarter worth about $49,368,299. Finally, Elliott Investment Management L.P. lifted its holdings in Seadrill by 23.1% during the 4th quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock worth $157,733,000 after buying an additional 855,012 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BWS Financial reiterated a “buy” rating and issued a $80.00 price target on shares of Seadrill in a research report on Tuesday, August 11th. Capital One Financial set a $55.00 price objective on Seadrill and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Seadrill in a research note on Tuesday, June 30th. Finally, Fearnley Fonds upgraded Seadrill from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.40.

Seadrill Price Performance

SDRL stock opened at $49.00 on Friday. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 1,633.33 and a beta of 1.22. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. Seadrill Limited has a 12-month low of $28.10 and a 12-month high of $55.47. The company’s fifty day simple moving average is $44.17 and its 200 day simple moving average is $45.18.

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