Foresight Global Investors Inc. Sells 45,900 Shares of Seadrill Limited $SDRL

Foresight Global Investors Inc. cut its holdings in shares of Seadrill Limited (NYSE:SDRL) by 15.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 243,706 shares of the oil and gas company’s stock after selling 45,900 shares during the period. Seadrill accounts for approximately 4.0% of Foresight Global Investors Inc.’s portfolio, making the stock its 11th biggest position. Foresight Global Investors Inc.’s holdings in Seadrill were worth $8,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Elliott Investment Management L.P. boosted its position in shares of Seadrill by 23.1% during the fourth quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock worth $157,733,000 after buying an additional 855,012 shares during the period. Vanguard Group Inc. boosted its position in shares of Seadrill by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,807,933 shares of the oil and gas company’s stock worth $131,754,000 after buying an additional 23,672 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Seadrill by 12.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,484,940 shares of the oil and gas company’s stock worth $120,579,000 after buying an additional 373,176 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Seadrill by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,226,446 shares of the oil and gas company’s stock worth $111,635,000 after buying an additional 34,511 shares during the period. Finally, Schf GPE LLC acquired a new position in shares of Seadrill during the second quarter worth about $60,132,000. 95.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SDRL shares. Barclays raised Seadrill from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $59.00 in a research report on Thursday, May 7th. BWS Financial reiterated a “buy” rating and set a $80.00 target price on shares of Seadrill in a report on Tuesday, April 7th. Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Citigroup upped their target price on Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Finally, Fearnley Fonds upgraded Seadrill from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Seadrill Stock Performance

SDRL opened at $44.40 on Friday. Seadrill Limited has a 52-week low of $25.48 and a 52-week high of $55.47. The firm has a market capitalization of $2.78 billion, a PE ratio of -39.64 and a beta of 1.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.94 and a current ratio of 1.94. The business’s 50-day simple moving average is $48.18 and its 200 day simple moving average is $41.60.

Seadrill (NYSE:SDRL) last released its earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share (EPS) 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 the consensus estimate of $326.75 million. As a group, sell-side analysts expect that Seadrill Limited will post 0.04 earnings per share for the current fiscal year.

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.