Profund Advisors LLC Buys New Position in Seadrill Limited $SDRL

Profund Advisors LLC purchased a new position in shares of Seadrill Limited (NYSE:SDRL) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 12,247 shares of the oil and gas company’s stock, valued at approximately $370,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SDRL. Raymond James Financial Inc. bought a new position in Seadrill during the 2nd quarter valued at $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Seadrill in the second quarter valued at about $42,000. Farther Finance Advisors LLC lifted its position in shares of Seadrill by 19.7% during the third quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 343 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Seadrill during the third quarter worth about $68,000. Finally, Osaic Holdings Inc. grew its position in Seadrill by 18.8% in the 2nd quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock worth $92,000 after purchasing an additional 558 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Seadrill Trading Up 3.6%

Shares of SDRL opened at $42.61 on Friday. The business has a 50-day moving average of $35.61 and a 200 day moving average of $32.46. Seadrill Limited has a fifty-two week low of $17.74 and a fifty-two week high of $43.30. The firm has a market cap of $2.66 billion, a P/E ratio of 92.63 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.

Analysts Set New Price Targets

Several research firms have commented on SDRL. Weiss Ratings lowered shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. BWS Financial reaffirmed a “buy” rating and set a $80.00 price target on shares of Seadrill in a research report on Friday, January 23rd. Dnb Carnegie raised Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. 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 report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.60.

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.