Packer & Co Ltd Buys New Shares in Seadrill Limited $SDRL

Packer & Co Ltd bought a new position in shares of Seadrill Limited (NYSE:SDRL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 450,080 shares of the oil and gas company’s stock, valued at approximately $13,597,000. Seadrill makes up approximately 2.9% of Packer & Co Ltd’s portfolio, making the stock its 7th largest position.

A number of other hedge funds have also recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its stake in shares of Seadrill by 19.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 343 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Seadrill by 18.8% during the second quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock worth $92,000 after buying an additional 558 shares during the last quarter. Hara Capital LLC increased its holdings in Seadrill by 2.2% during the second quarter. Hara Capital LLC now owns 33,707 shares of the oil and gas company’s stock worth $885,000 after buying an additional 716 shares during the last quarter. GAMMA Investing LLC raised its position in Seadrill by 319.3% during the second quarter. GAMMA Investing LLC now owns 1,237 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 942 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Seadrill in the second quarter valued at $27,000. 95.67% of the stock is currently owned by institutional investors.

Seadrill Stock Down 0.2%

Shares of SDRL opened at $35.21 on Thursday. Seadrill Limited has a 52 week low of $17.74 and a 52 week high of $39.04. The firm has a market cap of $2.20 billion, a P/E ratio of 76.55 and a beta of 1.54. The firm’s 50-day simple moving average is $32.01 and its 200 day simple moving average is $31.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.89 and a current ratio of 1.89.

Seadrill (NYSE:SDRL) last announced its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.43). The firm had revenue of $363.00 million for the quarter, compared to the consensus estimate of $343.56 million. Seadrill had a return on equity of 0.10% and a net margin of 2.49%. On average, analysts forecast that Seadrill Limited will post 1.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

SDRL has been the topic of several recent analyst reports. BWS Financial restated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research note on Wednesday, December 17th. Dnb Carnegie upgraded Seadrill to a “strong-buy” rating in a report on Tuesday, November 4th. Citigroup downgraded Seadrill from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $35.00 to $32.00 in a research report on Monday. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings downgraded Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $43.40.

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.