Fintel reports that Elliott Investment Management has filed a 13D/A form with the SEC disclosing ownership of 7.06MM shares of Seadrill Ltd. (SDRL). This represents 8.8% of the company.
In their previous filing dated April 5, 2023, they reported 7.41MM shares and 9.30% of the company, a decrease in shares of 4.80%, and a decrease in total ownership of 0.50% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 18.37% Upside
As of June 2, 2023, the average one-year price target for Seadrill is 51.31. The forecasts range from a low of 44.34 to a high of $60.79. The average price target represents an increase of 18.37% from its latest reported closing price of 43.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Seadrill is 1,168MM. The projected annual non-GAAP EPS is 2.82. For more in-depth coverage of Seadrill, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 77 funds or institutions reporting positions in Seadrill. This is an increase of 37 owner(s) or 92.50% in the last quarter. Average portfolio weight of all funds dedicated to SDRL is 1.08%, an increase of 143.63%. Total shares owned by institutions increased in the last three months by 21.88% to 19,912K shares. The put/call ratio of SDRL is 0.73, indicating a bullish outlook.
What are Other Shareholders Doing?
Polus Capital Management holds 5,578K shares representing 6.98% ownership of the company. In its prior filing, the firm reported owning 5,448K shares, representing an increase of 2.33%. The firm increased its portfolio allocation in SDRL by 53,658.06% over the last quarter.
Contrarius Investment Management holds 2,370K shares representing 2.97% ownership of the company. In its prior filing, the firm reported owning 363K shares, representing an increase of 84.68%. The firm increased its portfolio allocation in SDRL by 594.01% over the last quarter.
Jpmorgan Chase holds 1,738K shares representing 2.18% ownership of the company. In its prior filing, the firm reported owning 1,593K shares, representing an increase of 8.35%. The firm increased its portfolio allocation in SDRL by 24.06% over the last quarter.
Condire Management holds 1,421K shares representing 1.78% ownership of the company. In its prior filing, the firm reported owning 1,271K shares, representing an increase of 10.55%. The firm increased its portfolio allocation in SDRL by 45.30% over the last quarter.
Price T Rowe Associates holds 1,038K shares representing 1.30% ownership of the company.
This article originally appeared on Fintel
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