Seadrill Limited $SDRL Shares Sold by Mountain Lake Investment Management LLC

Mountain Lake Investment Management LLC reduced its position in Seadrill Limited (NYSE:SDRL) by 39.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,436 shares of the oil and gas company’s stock after selling 95,524 shares during the quarter. Seadrill comprises about 3.3% of Mountain Lake Investment Management LLC’s investment portfolio, making the stock its 12th biggest position. Mountain Lake Investment Management LLC’s holdings in Seadrill were worth $4,394,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Schf GPE LLC acquired a new stake in Seadrill during the second quarter worth about $60,132,000. Geode Capital Management LLC lifted its stake in shares of Seadrill by 77.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock valued at $37,256,000 after purchasing an additional 617,521 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Seadrill by 498.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock valued at $16,140,000 after purchasing an additional 512,074 shares in the last quarter. Packer & Co Ltd purchased a new stake in shares of Seadrill during the 3rd quarter worth about $13,597,000. Finally, DNB Asset Management AS grew its holdings in shares of Seadrill by 288.4% during the 2nd quarter. DNB Asset Management AS now owns 594,256 shares of the oil and gas company’s stock worth $15,599,000 after purchasing an additional 441,266 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Seadrill Price Performance

SDRL stock opened at $43.24 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.03 and a current ratio of 2.03. Seadrill Limited has a 1 year low of $17.74 and a 1 year high of $45.90. The firm has a market cap of $2.70 billion, a P/E ratio of -34.87 and a beta of 1.45. The stock has a 50-day simple moving average of $40.08 and a 200-day simple moving average of $34.54.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on SDRL. Weiss Ratings lowered shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 6th. Citigroup upgraded shares of Seadrill from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $32.00 to $46.00 in a research note on Thursday, March 5th. Zacks Research lowered shares of Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Wall Street Zen raised shares of Seadrill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, BTIG Research lifted their target price on shares of Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.00.

About Seadrill

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.