Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

First Sanctions and Now Its Own Shareholders: Seadrill Ltd (SDRL) Just Can’t Get A Break

Generally hedge funds are holding their ground as far as Seadrill Ltd (NYSE:SDRL) is concerned. Among over 700 hedge funds that we track, 18 had an aggregate investment of $95.49 million in the company at the end June as compared to 18 funds with $121.10 million a quarter earlier. Among these investors, Jim Simons‘ renowned quant fund Renaissance Technologies heads the list holding some 2.74 million shares, after a 70% hike during the second trimester. Other prominent shareholders of Seadrill Ltd (NYSE:SDRL) include Luminus Management, led by Jonathan Barrett and Paul Segal, and Philippe Laffont’s Coatue Management, which own 1.38 million shares and 972,900 shares as of the end of June, respectively.

A number of investors were also bearish on the company during the quarter, including Ken Griffin’s Citadel Investment Group that reduced its stake in the company by 82% to about 651,100 shares.

With a pending lawsuit that the company has every intention of fighting, but is still to quantify its costs, a struggling oil market and ofcourse the frozen deal with Rosneft itself, are strong bearish signals for any investor to jump in on Seadrill Ltd (NYSE:SDRL)’s wagon at the moment. And smart money that are long Seadril are right to be taking their time with the company awaiting some developments that could indicate which direction to take.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...