Lakewood Capital Management LP Trims Position in Seadrill Limited $SDRL

Lakewood Capital Management LP lessened its holdings in shares of Seadrill Limited (NYSE:SDRL) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 500,100 shares of the oil and gas company’s stock after selling 25,000 shares during the quarter. Seadrill makes up 1.1% of Lakewood Capital Management LP’s portfolio, making the stock its 28th biggest position. Lakewood Capital Management LP owned 0.80% of Seadrill worth $15,108,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SDRL. Geode Capital Management LLC increased its position in Seadrill by 77.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock valued at $37,256,000 after purchasing an additional 617,521 shares during the period. Creative Planning lifted its position in shares of Seadrill by 302.9% in the 2nd quarter. Creative Planning now owns 114,482 shares of the oil and gas company’s stock worth $3,005,000 after purchasing an additional 86,069 shares during the period. Cedar Wealth Management LLC lifted its position in shares of Seadrill by 44.0% in the 2nd quarter. Cedar Wealth Management LLC now owns 15,380 shares of the oil and gas company’s stock worth $404,000 after purchasing an additional 4,697 shares during the period. Empowered Funds LLC boosted its stake in shares of Seadrill by 5.5% during the 2nd quarter. Empowered Funds LLC now owns 253,499 shares of the oil and gas company’s stock valued at $6,654,000 after purchasing an additional 13,231 shares in the last quarter. Finally, Swiss National Bank bought a new stake in shares of Seadrill during the 2nd quarter valued at about $2,961,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Seadrill Stock Up 2.1%

NYSE:SDRL opened at $42.97 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.03 and a quick ratio of 2.03. The firm’s 50-day moving average price is $39.90 and its 200-day moving average price is $34.42. The company has a market capitalization of $2.68 billion, a PE ratio of -34.66 and a beta of 1.45. Seadrill Limited has a 1-year low of $17.74 and a 1-year high of $45.90.

Seadrill (NYSE:SDRL) last issued its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. The company had revenue of $362.00 million during the quarter, compared to analysts’ expectations of $335.36 million. On average, equities analysts predict that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SDRL shares. Zacks Research downgraded shares of Seadrill from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Wall Street Zen raised Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Citigroup upgraded Seadrill from a “sell” rating to a “neutral” rating and upped their target price for the stock from $32.00 to $46.00 in a report on Thursday, March 5th. Barclays increased their target price on Seadrill from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Finally, BTIG Research raised their target price on Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 9th. One equities research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Seadrill currently has a consensus rating of “Hold” and an average price target of $48.00.

Seadrill Company 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.