Monaco Asset Management SAM Grows Holdings in Seadrill Limited $SDRL

Monaco Asset Management SAM lifted its stake in shares of Seadrill Limited (NYSE:SDRL) by 23.7% in the third quarter, Holdings Channel reports. The institutional investor owned 266,047 shares of the oil and gas company’s stock after buying an additional 51,047 shares during the quarter. Seadrill accounts for approximately 0.5% of Monaco Asset Management SAM’s portfolio, making the stock its 13th biggest position. Monaco Asset Management SAM’s holdings in Seadrill were worth $8,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SDRL. Schf GPE LLC bought a new position in Seadrill during the 2nd quarter valued at $60,132,000. Geode Capital Management LLC raised its stake in shares of Seadrill by 77.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock valued at $37,256,000 after purchasing an additional 617,521 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Seadrill by 498.2% during the second quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock worth $16,140,000 after purchasing an additional 512,074 shares during the last quarter. Packer & Co Ltd bought a new position in shares of Seadrill during the third quarter worth about $13,597,000. Finally, DNB Asset Management AS grew its stake in Seadrill by 288.4% in the second quarter. DNB Asset Management AS now owns 594,256 shares of the oil and gas company’s stock worth $15,599,000 after purchasing an additional 441,266 shares in the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Seadrill Stock Performance

Shares of SDRL opened at $44.19 on Friday. The firm has a fifty day moving average of $36.71 and a 200-day moving average of $32.97. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 96.07 and a beta of 1.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.89 and a current ratio of 1.89. Seadrill Limited has a 1 year low of $17.74 and a 1 year high of $45.15.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SDRL shares. Zacks Research lowered Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. BWS Financial reissued a “buy” rating and set a $80.00 target price on shares of Seadrill in a report on Friday, January 23rd. Barclays set a $39.00 price target on shares of Seadrill in a research report on Wednesday. Weiss Ratings downgraded shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 6th. Finally, BTIG Research raised their target price on shares of Seadrill from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.