The Manufacturers Life Insurance Company Buys New Holdings in Seadrill Limited $SDRL

The Manufacturers Life Insurance Company purchased a new position in shares of Seadrill Limited (NYSE:SDRL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 24,096 shares of the oil and gas company’s stock, valued at approximately $911,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SDRL. Osaic Holdings Inc. grew its stake in Seadrill by 18.8% in the second quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock valued at $92,000 after acquiring an additional 558 shares during the period. Swiss National Bank raised its position in shares of Seadrill by 0.5% during the first quarter. Swiss National Bank now owns 117,200 shares of the oil and gas company’s stock worth $5,333,000 after purchasing an additional 600 shares during the period. Alliancebernstein L.P. raised 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 purchasing an additional 700 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Seadrill by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,488 shares of the oil and gas company’s stock worth $397,000 after purchasing an additional 742 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Seadrill in the 2nd quarter worth $27,000. Institutional investors own 95.67% of the company’s stock.

Seadrill Stock Performance

Shares of Seadrill stock opened at $49.00 on Friday. Seadrill Limited has a 52 week low of $28.10 and a 52 week high of $55.47. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $44.17 and a 200-day moving average price of $45.18. The company has a market cap of $3.06 billion, a PE ratio of 1,633.33 and a beta of 1.22.

Seadrill (NYSE:SDRL) last announced its earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.18. Seadrill had a return on equity of 0.64% and a net margin of 0.07%.The company had revenue of $430.00 million for the quarter, compared to analysts’ expectations of $388.46 million. Equities analysts anticipate that Seadrill Limited will post 0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BWS Financial reissued a “buy” rating and issued a $80.00 price target on shares of Seadrill in a research report on Tuesday, August 11th. Capital One Financial set a $55.00 price objective on shares of Seadrill and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Fearnley Fonds raised shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Seadrill in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.40.

Seadrill Company 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.