Monaco Asset Management SAM Grows Stock Position in Seadrill Limited $SDRL

Monaco Asset Management SAM raised its holdings in shares of Seadrill Limited (NYSE:SDRL) by 23.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,047 shares of the oil and gas company’s stock after acquiring an additional 51,047 shares during the quarter. Seadrill makes up 0.5% of Monaco Asset Management SAM’s investment portfolio, making the stock its 13th largest position. Monaco Asset Management SAM owned approximately 0.43% of Seadrill worth $8,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in Seadrill by 554.6% during the 2nd quarter. Legal & General Group Plc now owns 69,010 shares of the oil and gas company’s stock worth $1,812,000 after purchasing an additional 58,467 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Seadrill by 498.2% in the second quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock valued at $16,140,000 after purchasing an additional 512,074 shares during the last quarter. Packer & Co Ltd purchased a new position in Seadrill during the third quarter worth about $13,597,000. Creative Planning grew its holdings in Seadrill by 302.9% in the 2nd quarter. Creative Planning now owns 114,482 shares of the oil and gas company’s stock valued at $3,005,000 after buying an additional 86,069 shares during the period. Finally, Magnetar Financial LLC acquired a new position in shares of Seadrill during the 2nd quarter valued at about $548,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

Seadrill Stock Performance

Shares of NYSE:SDRL opened at $44.19 on Friday. The business’s 50-day simple moving average is $36.71 and its 200 day simple moving average is $32.97. The company has a market cap of $2.76 billion, a P/E ratio of 96.07 and a beta of 1.54. 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 Limited has a one year low of $17.74 and a one year high of $45.15.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SDRL. Dnb Carnegie raised shares of Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Barclays set a $39.00 price objective on shares of Seadrill in a research note on Wednesday. BWS Financial restated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a report on Friday, January 23rd. Citigroup cut Seadrill from a “neutral” rating to a “sell” rating and reduced their target price for the company from $35.00 to $32.00 in a report on Monday, January 12th. Finally, Zacks Research downgraded Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.80.

About Seadrill

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.