Geode Capital Management LLC Increases Holdings in Seadrill Limited (NYSE:SDRL)

Geode Capital Management LLC boosted its stake in shares of Seadrill Limited (NYSE:SDRL) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 833,388 shares of the oil and gas company’s stock after buying an additional 7,041 shares during the quarter. Geode Capital Management LLC’s holdings in Seadrill were worth $32,444,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. State Street Corp grew its position in shares of Seadrill by 5.1% during the third quarter. State Street Corp now owns 1,164,086 shares of the oil and gas company’s stock worth $46,261,000 after acquiring an additional 56,143 shares during the last quarter. Barclays PLC boosted its holdings in Seadrill by 48.5% in the third 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. Norges Bank purchased a new position in shares of Seadrill in the 4th quarter valued at $33,104,000. Vanguard Group Inc. boosted its stake in shares of Seadrill by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 540,864 shares of the oil and gas company’s stock valued at $21,056,000 after purchasing an additional 16,230 shares during the period. Finally, Hosking Partners LLP boosted its stake in shares of Seadrill by 30.7% during the 4th quarter. Hosking Partners LLP now owns 523,816 shares of the oil and gas company’s stock valued at $20,392,000 after buying an additional 122,941 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BWS Financial reiterated a “buy” rating and issued a $80.00 target price on shares of Seadrill in a research note on Monday, March 3rd. 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $62.00.

Seadrill Price Performance

Shares of SDRL stock opened at $19.36 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.53 and a current ratio of 2.53. The stock has a market capitalization of $1.20 billion, a PE ratio of 3.37 and a beta of 1.41. The stock’s fifty day moving average is $25.36 and its 200-day moving average is $33.86. Seadrill Limited has a 52 week low of $17.74 and a 52 week high of $56.46.

Seadrill (NYSE:SDRL) last released 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 firm 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%. Equities research analysts expect that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Seadrill Profile

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.