Webs Creek Capital Management LP Takes Position in Seadrill Limited $SDRL

Webs Creek Capital Management LP purchased a new position in Seadrill Limited (NYSE:SDRL) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,305,349 shares of the oil and gas company’s stock, valued at approximately $49,368,299,000. Seadrill comprises approximately 9.4% of Webs Creek Capital Management LP’s investment portfolio, making the stock its 4th biggest holding.

A number of other hedge funds also recently modified their holdings of the business. Algert Global LLC bought a new stake in Seadrill during the 2nd quarter worth approximately $6,637,000. Patient Capital Management LLC acquired a new stake in Seadrill during the 2nd quarter worth approximately $73,876,000. Tairen Capital Ltd bought a new position in Seadrill in the second quarter valued at approximately $2,330,000. Quantbot Technologies LP bought a new position in Seadrill in the second quarter valued at approximately $2,090,000. Finally, De Lisle Partners LLP bought a new position in Seadrill in the second quarter valued at approximately $1,325,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

Seadrill Stock Performance

SDRL opened at $46.71 on Tuesday. The business’s 50-day simple moving average is $42.46 and its 200 day simple moving average is $44.71. Seadrill Limited has a 52-week low of $28.10 and a 52-week high of $55.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The firm has a market capitalization of $2.92 billion, a PE ratio of 1,556.93 and a beta of 1.21.

Seadrill (NYSE:SDRL) last posted its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.18. The firm had revenue of $430.00 million during the quarter, compared to the consensus estimate of $388.46 million. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. As a group, sell-side analysts expect that Seadrill Limited will post 0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a research report on Tuesday, June 30th. Barclays raised shares of Seadrill from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $41.00 to $59.00 in a research report on Thursday, May 7th. Zacks Research raised shares of Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Capital One Financial set a $55.00 target price on Seadrill and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Finally, Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Seadrill presently has an average rating of “Moderate Buy” and an average target price of $55.00.

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.