Dockside LLC Takes Position in Seadrill Limited $SDRL

Dockside LLC purchased a new stake in shares of Seadrill Limited (NYSE:SDRL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 136,246 shares of the oil and gas company’s stock, valued at approximately $5,153,000. Seadrill comprises about 1.2% of Dockside LLC’s investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors have also added to or reduced their stakes in SDRL. Raymond James Financial Inc. bought a new position in Seadrill in the 2nd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC bought a new stake in shares of Seadrill during the second quarter worth $42,000. Aquatic Capital Management LLC bought a new stake in shares of Seadrill during the third quarter worth $44,000. CIBC Private Wealth Group LLC acquired a new position in shares of Seadrill during the third quarter worth $61,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Seadrill by 20.2% during the fourth quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock worth $87,000 after buying an additional 422 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SDRL has been the topic of several recent research reports. Capital One Financial set a $55.00 price objective on Seadrill and gave the company an “overweight” rating in a report on Wednesday, July 1st. Barclays raised Seadrill from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $59.00 in a report on Thursday, May 7th. BTIG Research increased their target price on Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a research note on Tuesday, June 30th. Finally, Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Seadrill currently has an average rating of “Moderate Buy” and an average price target of $55.00.

Seadrill Trading Up 1.9%

Shares of NYSE SDRL opened at $47.89 on Friday. The firm has a 50 day moving average price of $42.13 and a two-hundred day moving average price of $44.32. The stock has a market cap of $3.00 billion, a P/E ratio of 1,596.43 and a beta of 1.21. 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 1.94 and a current ratio of 2.50.

Seadrill (NYSE:SDRL) last issued its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.18. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. The company had revenue of $430.00 million for the quarter, compared to analyst estimates of $388.46 million. As a group, equities analysts forecast that Seadrill Limited will post 0.37 EPS 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.