Azarias Capital Management L.P. Purchases Shares of 136,645 Seadrill Limited $SDRL

Azarias Capital Management L.P. purchased a new stake in Seadrill Limited (NYSE:SDRL) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 136,645 shares of the oil and gas company’s stock, valued at approximately $6,217,000. Seadrill accounts for about 2.8% of Azarias Capital Management L.P.’s portfolio, making the stock its 12th largest position.

Several other large investors have also recently made changes to their positions in SDRL. Farther Finance Advisors LLC boosted its position in shares of Seadrill by 20.2% during the 4th quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 422 shares during the period. PNC Financial Services Group Inc. lifted its stake in Seadrill by 11.7% during the third quarter. PNC Financial Services Group Inc. now owns 4,615 shares of the oil and gas company’s stock worth $139,000 after purchasing an additional 484 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Seadrill by 18.8% during the second quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock worth $92,000 after purchasing an additional 558 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Seadrill by 1.0% during the third quarter. Alliancebernstein L.P. now owns 72,020 shares of the oil and gas company’s stock worth $2,176,000 after buying an additional 700 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Seadrill by 4.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,556 shares of the oil and gas company’s stock worth $642,000 after buying an additional 716 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Seadrill Trading Down 0.1%

NYSE:SDRL opened at $38.51 on Monday. The firm has a market cap of $2.41 billion, a PE ratio of -34.38 and a beta of 1.19. The stock has a fifty day moving average price of $47.46 and a 200 day moving average price of $42.02. Seadrill Limited has a 12-month low of $25.48 and a 12-month high of $55.47. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.22.

Seadrill (NYSE:SDRL) last issued its quarterly earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%.The company had revenue of $358.00 million for the quarter, compared to analysts’ expectations of $326.75 million. Sell-side analysts anticipate that Seadrill Limited will post 0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SDRL has been the topic of several research analyst reports. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a report on Thursday, April 2nd. BTIG Research lifted 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. Fearnley Fonds upgraded shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Citigroup increased their price target on shares of Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Two 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.