First Eagle Investment Management LLC Sells 31,513 Shares of Seadrill Limited $SDRL

First Eagle Investment Management LLC lessened its stake in Seadrill Limited (NYSE:SDRL) by 39.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 49,100 shares of the oil and gas company’s stock after selling 31,513 shares during the quarter. First Eagle Investment Management LLC’s holdings in Seadrill were worth $1,483,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Seadrill during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Seadrill during the second quarter valued at approximately $42,000. Farther Finance Advisors LLC increased its position in shares of Seadrill by 19.7% during 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 acquiring an additional 343 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Seadrill in the 3rd quarter worth approximately $68,000. Finally, Amica Retiree Medical Trust lifted its position in Seadrill by 13.7% in the 3rd quarter. Amica Retiree Medical Trust now owns 2,942 shares of the oil and gas company’s stock valued at $89,000 after acquiring an additional 355 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Seadrill Stock Performance

SDRL opened at $42.42 on Thursday. The company’s 50 day moving average is $38.67 and its 200 day moving average is $33.81. The company has a current ratio of 2.03, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -34.21 and a beta of 1.45. Seadrill Limited has a 12-month low of $17.74 and a 12-month high of $45.90.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on SDRL. Citigroup lowered Seadrill from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $35.00 to $32.00 in a report on Monday, January 12th. Zacks Research downgraded Seadrill from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. BTIG Research upped their target price on shares of Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 9th. BWS Financial reiterated a “buy” rating and issued a $80.00 price target on shares of Seadrill in a research note on Friday, January 23rd. Finally, Barclays boosted their price objective on shares of Seadrill from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday. One investment 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. According to MarketBeat.com, Seadrill currently has a consensus rating of “Hold” and a consensus target price of $45.20.

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.