Packer & Co Ltd Acquires New Position in Seadrill Limited $SDRL

Packer & Co Ltd bought a new position in shares of Seadrill Limited (NYSE:SDRL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 450,080 shares of the oil and gas company’s stock, valued at approximately $13,597,000. Seadrill accounts for 2.9% of Packer & Co Ltd’s portfolio, making the stock its 7th largest holding. Packer & Co Ltd owned 0.72% of Seadrill as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Schf GPE LLC bought a new position in shares of Seadrill in the 2nd quarter worth $60,132,000. Patient Capital Management LLC boosted its holdings in Seadrill by 13.0% during the second quarter. Patient Capital Management LLC now owns 2,229,549 shares of the oil and gas company’s stock worth $58,526,000 after buying an additional 256,836 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Seadrill by 77.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock worth $37,256,000 after buying an additional 617,521 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Seadrill by 498.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock valued at $16,140,000 after acquiring an additional 512,074 shares during the last quarter. Finally, DNB Asset Management AS raised its position in shares of Seadrill by 288.4% in the 2nd quarter. DNB Asset Management AS now owns 594,256 shares of the oil and gas company’s stock valued at $15,599,000 after acquiring an additional 441,266 shares during the period. Institutional investors own 95.67% of the company’s stock.

Seadrill Stock Down 0.2%

NYSE:SDRL opened at $35.21 on Thursday. The stock has a 50-day simple moving average of $32.01 and a 200 day simple moving average of $31.05. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $39.04. The company has a market cap of $2.20 billion, a PE ratio of 76.55 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.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.43). Seadrill had a return on equity of 0.10% and a net margin of 2.49%.The firm had revenue of $363.00 million for the quarter, compared to analyst estimates of $343.56 million. On average, sell-side analysts expect that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SDRL shares. BTIG Research boosted their price objective on shares of Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 9th. Weiss Ratings cut shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 6th. Citigroup downgraded Seadrill from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $35.00 to $32.00 in a research note on Monday. BWS Financial reissued a “buy” rating and issued a $80.00 target price on shares of Seadrill in a research note on Wednesday, December 17th. Finally, Barclays cut their price objective on Seadrill from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.40.

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.