Cullen Frost Bankers Inc. decreased its position in shares of Seadrill Ltd (NASDAQ:SDRL) by 15.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,188 shares of the company’s stock after selling 5,950 shares during the period. Cullen Frost Bankers Inc.’s holdings in Seadrill were worth $104,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Shah Capital Management raised its stake in Seadrill by 7.7% in the second quarter. Shah Capital Management now owns 1,562,500 shares of the company’s stock worth $5,062,000 after buying an additional 111,661 shares during the period. Creative Planning raised its stake in Seadrill by 46.6% in the second quarter. Creative Planning now owns 117,900 shares of the company’s stock worth $382,000 after buying an additional 37,504 shares during the period. Svenska Handelsbanken AB publ bought a new stake in Seadrill during the second quarter worth about $221,000. BNP Paribas Arbitrage SA raised its stake in Seadrill by 64.5% in the second quarter. BNP Paribas Arbitrage SA now owns 44,608 shares of the company’s stock worth $145,000 after buying an additional 17,487 shares during the period. Finally, WealthTrust Axiom LLC raised its stake in Seadrill by 28.2% in the second quarter. WealthTrust Axiom LLC now owns 40,900 shares of the company’s stock worth $132,000 after buying an additional 9,000 shares during the period.
Shares of Seadrill Ltd (NASDAQ:SDRL) traded down 4.82% during trading on Friday, reaching $2.37. 14,194,697 shares of the company traded hands. Seadrill Ltd has a 12 month low of $1.57 and a 12 month high of $7.93. The stock’s 50 day moving average price is $2.39 and its 200-day moving average price is $3.15. The stock’s market cap is $1.21 billion.
Seadrill (NASDAQ:SDRL) last issued its quarterly earnings data on Thursday, August 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.10. The business earned $868 million during the quarter. On average, equities research analysts expect that Seadrill Ltd will post $1.25 EPS for the current fiscal year.
SDRL has been the subject of a number of research analyst reports. Goldman Sachs Group Inc. reissued a “sell” rating on shares of Seadrill in a research report on Thursday, September 22nd. Morgan Stanley lowered shares of Seadrill from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, July 26th. Evercore ISI reaffirmed a “sell” rating on shares of Seadrill in a research report on Saturday, July 2nd. Canaccord Genuity reaffirmed a “sell” rating on shares of Seadrill in a research report on Sunday, August 21st. Finally, Credit Suisse Group AG reaffirmed a “sell” rating and set a $1.00 price objective on shares of Seadrill in a research report on Monday, September 26th. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company currently has an average rating of “Sell” and a consensus price target of $3.05.
Seadrill Limited is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. The Company’s primary business is the ownership and operation of drillships, semi-submersible rigs and jack-up rigs for operations in shallow and deep water areas, as well as benign and harsh environments.
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