Packer & Co Ltd Trims Holdings in Seadrill Limited $SDRL

Packer & Co Ltd trimmed its stake in Seadrill Limited (NYSE:SDRL) by 45.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 247,080 shares of the oil and gas company’s stock after selling 203,000 shares during the period. Seadrill comprises approximately 2.3% of Packer & Co Ltd’s holdings, making the stock its 10th largest position. Packer & Co Ltd’s holdings in Seadrill were worth $8,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SDRL. Raymond James Financial Inc. bought a new position in shares of Seadrill during the 2nd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC bought a new stake in Seadrill in the second quarter worth $42,000. Aquatic Capital Management LLC purchased a new position in Seadrill during the third quarter worth $44,000. CIBC Private Wealth Group LLC purchased a new position in Seadrill during the third quarter worth $61,000. Finally, Farther Finance Advisors LLC increased its position in 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 acquiring an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. BWS Financial reissued a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research report on Friday, January 23rd. Zacks Research downgraded shares of Seadrill from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Finally, Barclays boosted their target price on Seadrill from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.00.

Seadrill Stock Performance

SDRL stock opened at $45.71 on Friday. Seadrill Limited has a twelve month low of $17.74 and a twelve month high of $48.00. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -36.86 and a beta of 1.31. The business’s fifty day simple moving average is $42.72 and its two-hundred day simple moving average is $35.73. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL) last issued its 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. The firm had revenue of $362.00 million during the quarter, compared to analyst estimates of $335.36 million. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. Analysts predict that Seadrill Limited will post 1.86 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.