JPMorgan Chase & Co. Sells 78,993 Shares of Seadrill Limited $SDRL

JPMorgan Chase & Co. lowered its position in Seadrill Limited (NYSE:SDRL) by 12.8% during the third quarter, Holdings Channel reports. The institutional investor owned 535,856 shares of the oil and gas company’s stock after selling 78,993 shares during the quarter. JPMorgan Chase & Co.’s holdings in Seadrill were worth $16,188,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Schf GPE LLC purchased a new stake in Seadrill during the second quarter valued at approximately $60,132,000. Geode Capital Management LLC grew its holdings in Seadrill by 77.0% in the second quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock worth $37,256,000 after purchasing an additional 617,521 shares during the last quarter. Packer & Co Ltd purchased a new position in Seadrill in the third quarter worth $13,597,000. American Century Companies Inc. increased its position in shares of Seadrill by 64.4% during the third quarter. American Century Companies Inc. now owns 884,430 shares of the oil and gas company’s stock worth $26,719,000 after purchasing an additional 346,409 shares in the last quarter. Finally, SIR Capital Management L.P. increased its position in shares of Seadrill by 804.1% during the third quarter. SIR Capital Management L.P. now owns 377,647 shares of the oil and gas company’s stock worth $11,409,000 after purchasing an additional 335,877 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

Seadrill Trading Up 1.1%

NYSE:SDRL opened at $45.48 on Friday. Seadrill Limited has a 12 month low of $17.74 and a 12 month high of $46.20. The firm has a fifty day simple moving average of $41.67 and a 200-day simple moving average of $35.20. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.84 billion, a P/E ratio of -36.67 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SDRL. Zacks Research cut Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Wall Street Zen raised Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings cut Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Barclays raised their price target on Seadrill from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Finally, BTIG Research upped 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.00.

About Seadrill

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.