Dockside LLC Makes New Investment in Seadrill Limited $SDRL

Dockside LLC acquired a new stake in Seadrill Limited (NYSE:SDRL) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 136,246 shares of the oil and gas company’s stock, valued at approximately $5,153,000. Seadrill accounts for about 1.2% of Dockside LLC’s investment portfolio, making the stock its 17th largest holding. Dockside LLC owned approximately 0.22% of Seadrill at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Seadrill during the second quarter worth approximately $27,000. EverSource Wealth Advisors LLC bought a new stake in shares of Seadrill in the second quarter valued at approximately $42,000. Aquatic Capital Management LLC bought a new stake in shares of Seadrill in the third quarter valued at approximately $44,000. CIBC Private Wealth Group LLC acquired a new stake in Seadrill during the third quarter worth approximately $61,000. Finally, Farther Finance Advisors LLC grew its position 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 worth $87,000 after buying an additional 422 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SDRL shares. BWS Financial reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a report on Tuesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a report on Tuesday, June 30th. Capital One Financial set a $55.00 price target on Seadrill and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Barclays raised shares of Seadrill from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $59.00 in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Seadrill has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Seadrill Stock Up 1.9%

Shares of SDRL opened at $47.89 on Friday. Seadrill Limited has a one year low of $28.10 and a one year high of $55.47. The company has a market cap of $3.00 billion, a P/E ratio of 1,596.43 and a beta of 1.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 1.94. The firm has a 50 day simple moving average of $42.13 and a two-hundred day simple moving average of $44.32.

Seadrill (NYSE:SDRL) last issued its earnings results 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. Seadrill had a return on equity of 0.64% and a net margin of 0.07%.The firm had revenue of $430.00 million for the quarter, compared to the consensus estimate of $388.46 million. Research analysts forecast that Seadrill Limited will post 0.37 EPS for the current fiscal year.

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.