Sterling Capital Management LLC Increases Stock Position in Seadrill Limited (NYSE:SDRL)

Sterling Capital Management LLC boosted its holdings in Seadrill Limited (NYSE:SDRL) by 756.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,567 shares of the oil and gas company’s stock after purchasing an additional 1,384 shares during the quarter. Sterling Capital Management LLC’s holdings in Seadrill were worth $61,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Seadrill in the fourth quarter valued at about $33,104,000. Barclays PLC raised its stake in Seadrill by 48.5% during the 3rd quarter. Barclays PLC now owns 930,942 shares of the oil and gas company’s stock valued at $36,996,000 after acquiring an additional 303,839 shares during the last quarter. Packer & Co Ltd acquired a new stake in Seadrill during the 4th quarter worth approximately $9,619,000. American Century Companies Inc. grew its stake in shares of Seadrill by 327.3% in the 4th quarter. American Century Companies Inc. now owns 232,225 shares of the oil and gas company’s stock valued at $9,041,000 after purchasing an additional 177,881 shares during the last quarter. Finally, Hosking Partners LLP increased its holdings in shares of Seadrill by 30.7% in the fourth quarter. Hosking Partners LLP now owns 523,816 shares of the oil and gas company’s stock valued at $20,392,000 after purchasing an additional 122,941 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analyst Ratings Changes

SDRL has been the topic of a number of analyst reports. Citigroup lowered their price objective on shares of Seadrill from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. BWS Financial reissued a “buy” rating and issued a $80.00 price target on shares of Seadrill in a report on Monday, March 3rd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Seadrill has a consensus rating of “Buy” and an average target price of $62.00.

Seadrill Trading Up 0.3 %

Shares of Seadrill stock opened at $20.52 on Thursday. Seadrill Limited has a 12-month low of $17.74 and a 12-month high of $56.46. The stock has a market cap of $1.28 billion, a PE ratio of 3.57 and a beta of 1.41. The company has a 50-day moving average of $24.17 and a two-hundred day moving average of $33.18. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL) last posted its earnings results on Wednesday, February 26th. The oil and gas company reported $1.07 earnings per share for the quarter, beating the consensus estimate of ($0.34) by $1.41. The company had revenue of $289.00 million for the quarter, compared to analyst estimates of $299.50 million. Seadrill had a return on equity of 7.24% and a net margin of 27.79%. On average, research analysts anticipate that Seadrill Limited will post 1.86 EPS for the current fiscal year.

About Seadrill

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.