First Eagle Investment Management LLC Sells 31,513 Shares of Seadrill Limited $SDRL

First Eagle Investment Management LLC lowered its stake in Seadrill Limited (NYSE:SDRL) by 39.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,100 shares of the oil and gas company’s stock after selling 31,513 shares during the period. First Eagle Investment Management LLC owned approximately 0.08% of Seadrill worth $1,483,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in Seadrill during the 2nd quarter worth approximately $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Seadrill in the second quarter worth approximately $42,000. Farther Finance Advisors LLC increased its stake in shares of Seadrill by 19.7% in the third quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock worth $63,000 after buying an additional 343 shares during the period. State of Alaska Department of Revenue bought a new stake in Seadrill during the 3rd quarter valued at $68,000. Finally, Amica Retiree Medical Trust raised its holdings 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 valued at $89,000 after buying an additional 355 shares during the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of 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 issued a $80.00 target price on shares of Seadrill in a research note on Friday, January 23rd. Weiss Ratings lowered Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 6th. Barclays lifted their price objective on Seadrill from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, BTIG Research upped their target price on Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and three have issued 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 target price of $45.20.

Seadrill Trading Down 1.2%

Shares of NYSE SDRL opened at $42.42 on Thursday. Seadrill Limited has a 1 year low of $17.74 and a 1 year high of $45.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.03 and a quick ratio of 1.89. The firm has a 50-day moving average of $38.67 and a 200 day moving average of $33.81. The stock has a market cap of $2.65 billion, a P/E ratio of -34.21 and a beta of 1.45.

Seadrill (NYSE:SDRL) last announced its earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. The business had revenue of $362.00 million during the quarter, compared to the consensus estimate of $335.36 million. As a group, sell-side analysts expect that Seadrill Limited will post 1.86 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.