Squarepoint Ops LLC Boosts Holdings in Seadrill Limited $SDRL

Squarepoint Ops LLC increased its position in Seadrill Limited (NYSE:SDRL) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,188 shares of the oil and gas company’s stock after purchasing an additional 29,588 shares during the period. Squarepoint Ops LLC’s holdings in Seadrill were worth $14,454,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SDRL. BlackRock Inc. purchased a new position in Seadrill in the second quarter worth about $207,509,000. California State Teachers Retirement System grew its holdings in shares of Seadrill by 3,584.1% during the second quarter. California State Teachers Retirement System now owns 2,686,014 shares of the oil and gas company’s stock valued at $101,585,000 after buying an additional 2,613,105 shares during the last quarter. Schf GPE LLC bought a new stake in shares of Seadrill during the second quarter valued at approximately $60,132,000. Patient Capital Management LLC bought a new stake in shares of Seadrill during the second quarter valued at approximately $73,876,000. Finally, Webs Creek Capital Management LP purchased a new position in Seadrill in the 2nd quarter worth approximately $49,368,299. 95.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Seadrill Price Performance

Shares of SDRL opened at $48.09 on Thursday. The firm has a fifty day simple moving average of $44.77 and a two-hundred day simple moving average of $45.30. The firm has a market cap of $3.01 billion, a PE ratio of 1,602.87 and a beta of 1.22. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. Seadrill Limited has a 1-year low of $28.10 and a 1-year high of $55.47.

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

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.