Seadrill Limited $SDRL Shares Bought by 683 Capital Management LLC

683 Capital Management LLC lifted its stake in shares of Seadrill Limited (NYSE:SDRL) by 258.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 215,000 shares of the oil and gas company’s stock after acquiring an additional 155,000 shares during the quarter. 683 Capital Management LLC’s holdings in Seadrill were worth $5,644,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SDRL. LPL Financial LLC lifted its position in Seadrill by 73.9% in the first quarter. LPL Financial LLC now owns 100,062 shares of the oil and gas company’s stock worth $2,502,000 after purchasing an additional 42,519 shares during the period. Deutsche Bank AG raised its stake in shares of Seadrill by 335.4% in the 1st quarter. Deutsche Bank AG now owns 253,365 shares of the oil and gas company’s stock worth $6,334,000 after buying an additional 195,174 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Seadrill by 50.8% in the first quarter. Invesco Ltd. now owns 81,184 shares of the oil and gas company’s stock valued at $2,030,000 after buying an additional 27,337 shares during the period. Virtu Financial LLC bought a new position in Seadrill during the first quarter valued at about $314,000. Finally, Nuveen LLC bought a new position in Seadrill during the first quarter valued at about $6,806,000. Institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SDRL shares. SEB Equity Research set a $33.00 price target on shares of Seadrill in a research report on Monday, September 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Seadrill in a report on Wednesday, October 8th. Dnb Carnegie raised shares of Seadrill to a “strong-buy” rating in a research note on Tuesday, November 4th. Zacks Research lowered shares of Seadrill from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. Finally, Barclays cut their price objective on Seadrill from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.60.

Seadrill Stock Down 3.6%

Shares of NYSE:SDRL opened at $31.82 on Friday. The firm has a 50 day simple moving average of $30.80 and a 200 day simple moving average of $29.89. Seadrill Limited has a 52 week low of $17.74 and a 52 week high of $39.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market cap of $1.98 billion, a PE ratio of 69.18 and a beta of 1.59.

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

About Seadrill

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.