JPMorgan Chase & Co. Has $16.19 Million Stock Position in Seadrill Limited $SDRL

JPMorgan Chase & Co. cut its stake in shares of Seadrill Limited (NYSE:SDRL) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 535,856 shares of the oil and gas company’s stock after selling 78,993 shares during the period. JPMorgan Chase & Co. owned about 0.86% of Seadrill worth $16,188,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Seadrill during the 2nd quarter worth $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill during the second quarter valued at about $42,000. Farther Finance Advisors LLC increased its stake in shares of Seadrill by 19.7% in 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 buying an additional 343 shares during the period. State of Alaska Department of Revenue bought a new position in Seadrill in the 3rd quarter valued at approximately $68,000. Finally, Osaic Holdings Inc. boosted its position in Seadrill by 18.8% during the 2nd quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock worth $92,000 after buying an additional 558 shares during the period. 95.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SDRL. Zacks Research cut shares of Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Dnb Carnegie raised shares of Seadrill to a “strong-buy” rating in a research note on Tuesday, November 4th. BWS Financial reaffirmed a “buy” rating and set a $80.00 target price on shares of Seadrill in a research report on Friday, January 23rd. Weiss Ratings lowered Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 6th. Finally, Citigroup cut Seadrill from a “neutral” rating to a “sell” rating and decreased their price target for the company from $35.00 to $32.00 in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.20.

Seadrill Stock Performance

SDRL stock opened at $42.87 on Wednesday. The firm has a market cap of $2.68 billion, a PE ratio of -34.57 and a beta of 1.45. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $38.48 and a 200-day moving average price of $33.75. Seadrill Limited has a 1-year low of $17.74 and a 1-year high of $45.90.

Seadrill (NYSE:SDRL) last announced its earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. The company had revenue of $362.00 million for the quarter, compared to analyst estimates of $335.36 million. Seadrill had a negative return on equity of 2.07% and a negative net margin of 5.36%. As a group, equities research analysts expect that Seadrill Limited will post 1.86 earnings per share for the current year.

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.