Foresight Global Investors Inc. Has $8.43 Million Stock Position in Seadrill Limited $SDRL

Foresight Global Investors Inc. reduced its position in Seadrill Limited (NYSE:SDRL) by 15.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 243,706 shares of the oil and gas company’s stock after selling 45,900 shares during the period. Seadrill accounts for approximately 4.0% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 11th largest holding. Foresight Global Investors Inc. owned approximately 0.39% of Seadrill worth $8,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Seadrill in the 2nd quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill in the 2nd quarter valued at $42,000. Aquatic Capital Management LLC acquired a new stake in shares of Seadrill in the 3rd quarter valued at $44,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Seadrill in the 3rd quarter valued at $61,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Seadrill by 20.2% in the 4th quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock valued at $87,000 after buying an additional 422 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.

Seadrill Stock Performance

SDRL stock opened at $44.40 on Friday. The business’s 50-day moving average price is $48.18 and its two-hundred day moving average price is $41.60. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2.78 billion, a PE ratio of -39.64 and a beta of 1.19. Seadrill Limited has a 1-year low of $25.48 and a 1-year high of $55.47.

Seadrill (NYSE:SDRL) last posted its earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $358.00 million for the quarter, compared to the consensus estimate of $326.75 million. Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%. As a group, research analysts forecast that Seadrill Limited will post 0.04 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on SDRL. Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. BTIG Research increased their target price on Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a report on Thursday, April 2nd. Finally, Barclays upgraded Seadrill from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $59.00 in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.00.

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.