DNB Asset Management AS Has $24.64 Million Holdings in Seadrill Limited $SDRL

DNB Asset Management AS increased its holdings in Seadrill Limited (NYSE:SDRL) by 37.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 815,644 shares of the oil and gas company’s stock after buying an additional 221,388 shares during the period. DNB Asset Management AS owned 1.31% of Seadrill worth $24,641,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Schf GPE LLC bought a new position in Seadrill during the 2nd quarter worth $60,132,000. Patient Capital Management LLC lifted its position in shares of Seadrill by 13.0% during the 2nd quarter. Patient Capital Management LLC now owns 2,229,549 shares of the oil and gas company’s stock valued at $58,526,000 after acquiring an additional 256,836 shares during the period. Goehring & Rozencwajg Associates LLC lifted its position in shares of Seadrill by 0.7% during the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 1,695,114 shares of the oil and gas company’s stock valued at $51,209,000 after acquiring an additional 11,113 shares during the period. Geode Capital Management LLC grew its holdings in shares of Seadrill by 77.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock worth $37,256,000 after purchasing an additional 617,521 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Seadrill by 498.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock worth $16,140,000 after purchasing an additional 512,074 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SDRL has been the subject of a number of analyst reports. BTIG Research boosted their price target on Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Citigroup lowered shares of Seadrill from a “neutral” rating to a “sell” rating and decreased their target price for the company from $35.00 to $32.00 in a report on Monday, January 12th. Barclays set a $39.00 target price on shares of Seadrill in a research report on Wednesday, February 18th. Weiss Ratings lowered shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 6th. Finally, Zacks Research cut shares of Seadrill from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.80.

Seadrill Stock Up 1.3%

Shares of NYSE SDRL opened at $43.84 on Friday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -35.35 and a beta of 1.54. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21. Seadrill Limited has a 12 month low of $17.74 and a 12 month high of $45.90. The stock has a 50-day moving average price of $38.05 and a two-hundred day moving average price of $33.50.

Seadrill (NYSE:SDRL) last announced its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.05. The company had revenue of $362.00 million for the quarter, compared to analyst estimates of $335.36 million. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. As a group, analysts forecast that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Seadrill 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.