Walleye Capital LLC Acquires Shares of 72,628 Seadrill Limited $SDRL

Walleye Capital LLC acquired a new stake in shares of Seadrill Limited (NYSE:SDRL) in the 2nd quarter, Holdings Channel reports. The firm acquired 72,628 shares of the oil and gas company’s stock, valued at approximately $2,747,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SDRL. Raymond James Financial Inc. purchased a new stake in shares of Seadrill during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new position in Seadrill in the second quarter worth about $42,000. Aquatic Capital Management LLC purchased a new position in Seadrill in the third quarter worth about $44,000. CIBC Private Wealth Group LLC purchased a new position in Seadrill in the third quarter worth about $61,000. Finally, Farther Finance Advisors LLC increased its stake in Seadrill by 20.2% during the fourth quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock worth $87,000 after acquiring an additional 422 shares during the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Seadrill Stock Performance

Seadrill stock opened at $47.89 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 1.94. The firm has a market capitalization of $3.00 billion, a P/E ratio of 1,596.43 and a beta of 1.21. Seadrill Limited has a 1-year low of $28.10 and a 1-year high of $55.47. The company’s 50-day moving average is $42.13 and its 200 day moving average is $44.32.

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. The business had revenue of $430.00 million during the quarter, compared to analyst estimates of $388.46 million. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. Research analysts forecast that Seadrill Limited will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SDRL. BTIG Research upped their price objective on Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, April 17th. BWS Financial reiterated a “buy” rating and issued a $80.00 target price on shares of Seadrill in a report on Tuesday. Barclays raised Seadrill from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $59.00 in a research report on Thursday, May 7th. Capital One Financial set a $55.00 price target on Seadrill and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Finally, Fearnley Fonds raised shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

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.