BNP Paribas Arbitrage SA boosted its stake in Seadrill Ltd (NASDAQ:SDRL) by 28.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,254 shares of the company’s stock after buying an additional 12,646 shares during the period. BNP Paribas Arbitrage SA’s holdings in Seadrill were worth $136,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services Inc raised its stake in shares of Seadrill by 4.4% in the second quarter. Commonwealth Equity Services Inc now owns 32,111 shares of the company’s stock valued at $104,000 after buying an additional 1,343 shares in the last quarter. Boothbay Fund Management LLC raised its stake in shares of Seadrill by 144.0% in the first quarter. Boothbay Fund Management LLC now owns 32,610 shares of the company’s stock valued at $108,000 after buying an additional 19,247 shares in the last quarter. WealthTrust Axiom LLC raised its stake in shares of Seadrill by 28.2% in the second quarter. WealthTrust Axiom LLC now owns 40,900 shares of the company’s stock valued at $132,000 after buying an additional 9,000 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Seadrill by 2.8% in the second quarter. Janney Montgomery Scott LLC now owns 42,339 shares of the company’s stock valued at $144,000 after buying an additional 1,141 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Seadrill during the second quarter valued at about $150,000.
Shares of Seadrill Ltd (NASDAQ:SDRL) opened at 2.64 on Thursday. Seadrill Ltd has a 12 month low of $1.57 and a 12 month high of $7.69. The company’s market cap is $1.34 billion. The firm has a 50-day moving average price of $2.37 and a 200 day moving average price of $3.09.
Seadrill (NASDAQ:SDRL) last issued its earnings results on Thursday, August 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. The business had revenue of $868 million for the quarter. Equities analysts predict that Seadrill Ltd will post $1.25 earnings per share for the current year.
Several analysts have issued reports on the company. Evercore ISI set a $2.00 target price on Seadrill and gave the stock a “sell” rating in a research note on Sunday, August 28th. Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Seadrill in a research report on Thursday, September 22nd. Morgan Stanley downgraded Seadrill from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, July 26th. Canaccord Genuity reiterated a “sell” rating on shares of Seadrill in a research report on Wednesday, September 7th. Finally, Credit Suisse Group AG reiterated a “sell” rating and issued 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 assigned a hold rating to the company’s stock. Seadrill presently has an average rating of “Sell” and an average price target of $3.05.
Seadrill Company Profile
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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