DNB Asset Management AS Purchases 221,388 Shares of Seadrill Limited $SDRL

DNB Asset Management AS increased its position in shares of Seadrill Limited (NYSE:SDRL) by 37.3% during the third quarter, HoldingsChannel reports. The fund owned 815,644 shares of the oil and gas company’s stock after buying an additional 221,388 shares during the quarter. DNB Asset Management AS’s holdings in Seadrill were worth $24,641,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SDRL. Citigroup Inc. raised its position in Seadrill by 390.8% in the third quarter. Citigroup Inc. now owns 143,224 shares of the oil and gas company’s stock valued at $4,327,000 after purchasing an additional 114,043 shares during the last quarter. Monaco Asset Management SAM increased its stake in shares of Seadrill by 23.7% in the third quarter. Monaco Asset Management SAM now owns 266,047 shares of the oil and gas company’s stock valued at $8,037,000 after buying an additional 51,047 shares during the period. Goehring & Rozencwajg Associates LLC raised its holdings in Seadrill by 0.7% in the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 1,695,114 shares of the oil and gas company’s stock valued at $51,209,000 after buying an additional 11,113 shares during the last quarter. Amica Retiree Medical Trust boosted its position in Seadrill by 13.7% during the 3rd quarter. Amica Retiree Medical Trust now owns 2,942 shares of the oil and gas company’s stock worth $89,000 after buying an additional 355 shares during the period. Finally, Amica Mutual Insurance Co. boosted its position in Seadrill by 14.8% during the 3rd quarter. Amica Mutual Insurance Co. now owns 29,574 shares of the oil and gas company’s stock worth $893,000 after buying an additional 3,816 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.

Seadrill Price Performance

SDRL stock opened at $43.84 on Friday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -35.35 and a beta of 1.54. The company’s fifty day simple moving average is $38.05 and its 200 day simple moving average is $33.50. Seadrill Limited has a 12-month low of $17.74 and a 12-month high of $45.90.

Seadrill (NYSE:SDRL) last issued its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The firm had revenue of $362.00 million during the quarter, compared to the consensus estimate of $335.36 million. Seadrill had a negative return on equity of 2.07% and a negative net margin of 5.36%. On average, analysts expect that Seadrill Limited will post 1.86 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. BTIG Research raised their price target on shares of Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Zacks Research lowered Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Weiss Ratings downgraded Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 6th. Dnb Carnegie upgraded Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Barclays set a $39.00 price objective on Seadrill in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Seadrill has a consensus rating of “Hold” and a consensus price target of $44.80.

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.