Corigliano Investment Advisers LLC Purchases 36,235 Shares of Seadrill Limited $SDRL

Corigliano Investment Advisers LLC boosted its position in Seadrill Limited (NYSE:SDRL) by 45.5% during the 4th quarter, HoldingsChannel reports. The firm owned 115,835 shares of the oil and gas company’s stock after purchasing an additional 36,235 shares during the period. Seadrill comprises about 1.4% of Corigliano Investment Advisers LLC’s investment portfolio, making the stock its 21st biggest position. Corigliano Investment Advisers LLC’s holdings in Seadrill were worth $4,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Seadrill during the second quarter valued at $27,000. EverSource Wealth Advisors LLC purchased a new position in Seadrill in the 2nd quarter worth approximately $42,000. Aquatic Capital Management LLC bought a new position in shares of Seadrill during the third quarter worth $44,000. CIBC Private Wealth Group LLC bought a new position in shares of Seadrill during the 3rd quarter valued at about $61,000. Finally, Farther Finance Advisors LLC boosted its stake in Seadrill by 20.2% during the fourth quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock valued at $87,000 after buying an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Fearnley Fonds upgraded shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a research note on Thursday, April 2nd. Wall Street Zen raised Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, BTIG Research lifted their price objective on shares of Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Stock Performance

SDRL opened at $40.13 on Thursday. The firm’s 50-day moving average price is $47.86 and its 200-day moving average price is $41.91. The company has a market cap of $2.51 billion, a P/E ratio of -35.83 and a beta of 1.19. Seadrill Limited has a 52-week low of $25.48 and a 52-week high of $55.47. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.22.

Seadrill (NYSE:SDRL) last announced its quarterly earnings data on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Seadrill had a negative net margin of 4.79% and a negative return on equity of 1.84%. The company had revenue of $358.00 million for the quarter, compared to analysts’ expectations of $326.75 million. As a group, equities analysts anticipate that Seadrill Limited will post 0.04 EPS 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.