Seadrill Limited $SDRL Stock Holdings Reduced by Azarias Capital Management L.P.

Azarias Capital Management L.P. lessened its stake in shares of Seadrill Limited (NYSE:SDRL) by 50.1% during the 3rd quarter, Holdings Channel reports. The firm owned 105,405 shares of the oil and gas company’s stock after selling 105,896 shares during the quarter. Seadrill comprises approximately 4.4% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 6th largest position. Azarias Capital Management L.P.’s holdings in Seadrill were worth $4,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Contravisory Investment Management Inc. raised its holdings in shares of Seadrill by 16.0% in the third quarter. Contravisory Investment Management Inc. now owns 7,985 shares of the oil and gas company’s stock worth $357,000 after buying an additional 1,103 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Seadrill by 38.2% during the third quarter. GAMMA Investing LLC now owns 2,523 shares of the oil and gas company’s stock worth $113,000 after buying an additional 698 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Seadrill by 137.1% during the third quarter. Farther Finance Advisors LLC now owns 17,519 shares of the oil and gas company’s stock worth $783,000 after buying an additional 10,129 shares during the period. Engineers Gate Manager LP lifted its stake in shares of Seadrill by 7.2% during the second quarter. Engineers Gate Manager LP now owns 23,772 shares of the oil and gas company’s stock worth $899,000 after buying an additional 1,592 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Seadrill during the second quarter worth $92,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup reissued a “neutral” rating on shares of Seadrill in a report on Monday, September 7th. BWS Financial restated a “buy” rating and issued a $80.00 target price on shares of Seadrill in a research note on Wednesday. Capital One Financial set a $55.00 target price on Seadrill and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Zacks Research raised Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 14th. Finally, Weiss Ratings raised Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Four research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $59.40.

Seadrill Stock Performance

NYSE SDRL traded down $2.20 during trading hours on Wednesday, reaching $46.80. The stock had a trading volume of 1,024,255 shares, compared to its average volume of 779,467. The stock has a fifty day moving average of $46.86 and a 200 day moving average of $45.77. The stock has a market cap of $2.93 billion, a P/E ratio of 1,560.13 and a beta of 1.25. Seadrill Limited has a 52-week low of $28.10 and a 52-week high of $55.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.

Seadrill (NYSE:SDRL) last issued its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.18. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. The company had revenue of $430.00 million for the quarter, compared to the consensus estimate of $388.46 million. Sell-side analysts predict that Seadrill Limited will post 0.89 earnings per share for the current year.

Seadrill Profile

Seadrill Limited is an offshore drilling contractor that provides drilling services to oil and gas companies worldwide. The company operates and manages offshore drilling units, including drillships and semisubmersible rigs, used to explore for and develop oil and natural gas resources in deepwater and other challenging marine environments.

Its services include contract drilling, rig operations, well construction support and related offshore services. Seadrill’s fleet is designed to serve a range of offshore projects, with operations and contract activity spanning major energy-producing regions such as the Gulf of Mexico, Brazil, the North Sea, West Africa and other international markets.

Seadrill was founded in 2005 and has expanded through fleet development, acquisitions and strategic transactions.