63,232 Shares in Seadrill Limited $SDRL Bought by Legal & General Group Plc

Legal & General Group Plc bought a new stake in Seadrill Limited (NYSE:SDRL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 63,232 shares of the oil and gas company’s stock, valued at approximately $2,391,000. Legal & General Group Plc owned about 0.10% of Seadrill as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Seadrill during the second quarter worth about $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Seadrill during the 2nd quarter valued at about $42,000. Aquatic Capital Management LLC bought a new position in shares of Seadrill during the 3rd quarter valued at about $44,000. State of Wyoming purchased a new position in shares of Seadrill during the 2nd quarter valued at about $55,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Seadrill during the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Seadrill Stock Down 2.1%

SDRL opened at $49.00 on Friday. Seadrill Limited has a 12 month low of $28.10 and a 12 month high of $55.47. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $44.17 and its 200-day moving average price is $45.18. The company has a market cap of $3.06 billion, a P/E ratio of 1,633.33 and a beta of 1.22.

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 the consensus estimate of $0.29 by $0.18. Seadrill had a return on equity of 0.64% and a net margin of 0.07%.The company had revenue of $430.00 million during the quarter, compared to analysts’ expectations of $388.46 million. On average, equities analysts expect that Seadrill Limited will post 0.37 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BWS Financial reaffirmed a “buy” rating and issued a $80.00 target price on shares of Seadrill in a research note on Tuesday, August 11th. Capital One Financial set a $55.00 price target on shares of Seadrill and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a report on Tuesday, June 30th. Finally, Fearnley Fonds raised shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Three 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 issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.40.

Seadrill Company 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.