Orvieto Partners L.P. Decreases Stake in Seadrill Limited $SDRL

Orvieto Partners L.P. lessened its holdings in shares of Seadrill Limited (NYSE:SDRL) by 44.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,000 shares of the oil and gas company’s stock after selling 44,500 shares during the quarter. Seadrill accounts for 2.1% of Orvieto Partners L.P.’s portfolio, making the stock its 18th largest position. Orvieto Partners L.P.’s holdings in Seadrill were worth $2,502,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position in shares of Seadrill by 23.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company’s stock worth $1,012,000 after buying an additional 7,233 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in Seadrill during the 2nd quarter valued at about $42,000. Federated Hermes Inc. grew its holdings in Seadrill by 394,614.3% in the 2nd quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company’s stock worth $5,802,000 after buying an additional 220,984 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Seadrill in the second quarter worth $696,000. Finally, Sei Investments Co. bought a new position in Seadrill in the 2nd quarter valued at about $375,000. Institutional investors own 95.67% of the company’s stock.

Seadrill Stock Up 1.7%

NYSE SDRL opened at $45.56 on Friday. Seadrill Limited has a twelve month low of $27.40 and a twelve month high of $55.47. The stock has a market cap of $2.85 billion, a PE ratio of -40.68 and a beta of 1.27. The firm has a 50-day simple moving average of $43.87 and a 200 day simple moving average of $43.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.94 and a current ratio of 1.94.

Seadrill (NYSE:SDRL) last posted its quarterly earnings results 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 return on equity of 1.84% and a negative net margin of 4.79%.The business had revenue of $358.00 million for the quarter, compared to analyst estimates of $326.75 million. On average, research analysts forecast that Seadrill Limited will post 0.37 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on SDRL. BWS Financial reiterated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research note on Monday, June 29th. Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Barclays upgraded Seadrill from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $41.00 to $59.00 in a report on Thursday, May 7th. BTIG Research raised their price target on shares of Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Citigroup lifted their price objective on Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Seadrill has an average rating of “Moderate Buy” and an average target price of $55.00.

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.