Sound Point Capital Management LP reduced its position in shares of Seadrill Ltd (NYSE:SDRL) by 9.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 101,459 shares of the oil and gas company’s stock after selling 10,685 shares during the quarter. Seadrill makes up 0.2% of Sound Point Capital Management LP’s investment portfolio, making the stock its 18th largest position. Sound Point Capital Management LP’s holdings in Seadrill were worth $989,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in Seadrill in the 3rd quarter worth approximately $115,000. Vertex One Asset Management Inc. purchased a new position in Seadrill in the 3rd quarter worth approximately $206,000. NumerixS Investment Technologies Inc purchased a new position in Seadrill in the 4th quarter worth approximately $94,000. Neuberger Berman Group LLC purchased a new stake in shares of Seadrill during the 3rd quarter worth approximately $280,000. Finally, Bank of America Corp DE raised its holdings in shares of Seadrill by 42.6% during the 4th quarter. Bank of America Corp DE now owns 45,272 shares of the oil and gas company’s stock worth $441,000 after acquiring an additional 13,535 shares in the last quarter. Institutional investors and hedge funds own 8.89% of the company’s stock.
Shares of SDRL traded down $0.16 during mid-day trading on Monday, hitting $9.05. 306 shares of the stock were exchanged, compared to its average volume of 653,215. Seadrill Ltd has a 52-week low of $7.80 and a 52-week high of $26.72. The company has a quick ratio of 5.09, a current ratio of 5.96 and a debt-to-equity ratio of 2.34.
Seadrill Limited, an offshore drilling contractor, provides offshore drilling services to the oil and gas industry worldwide. The company operates in three segments: Floaters, Jack-up Rigs, and Other. The Floaters segment offers drilling, completion, and maintenance services for offshore exploration and production wells.
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