61,600 Shares in Seadrill Limited $SDRL Acquired by Tairen Capital Ltd

Tairen Capital Ltd acquired a new stake in shares of Seadrill Limited (NYSE:SDRL) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 61,600 shares of the oil and gas company’s stock, valued at approximately $2,330,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Seadrill in the second quarter worth $27,000. Aquatic Capital Management LLC acquired a new position in Seadrill during the third quarter valued at $44,000. State of Wyoming purchased a new stake in Seadrill in the second quarter valued at $55,000. EverSource Wealth Advisors LLC purchased a new stake in Seadrill in the second quarter valued at $42,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Seadrill during the 3rd quarter worth about $61,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Seadrill Stock Performance

Shares of NYSE SDRL opened at $47.39 on Monday. The company has a market capitalization of $2.96 billion, a PE ratio of 1,579.67 and a beta of 1.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The company’s fifty day moving average price is $42.37 and its 200 day moving average price is $44.66. Seadrill Limited has a 1 year low of $28.10 and a 1 year high of $55.47.

Seadrill (NYSE:SDRL) last released its quarterly earnings data on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.18. The company had revenue of $430.00 million during the quarter, compared to analysts’ expectations of $388.46 million. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. On average, research analysts predict that Seadrill Limited will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SDRL shares. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. BWS Financial reiterated a “buy” rating and set a $80.00 price target on shares of Seadrill in a research report on Tuesday, August 11th. Capital One Financial set a $55.00 price target on Seadrill and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Finally, Barclays raised Seadrill from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $59.00 in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Seadrill currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

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.