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Seadrill Ltd (SDRL) Spikes on Surging Oil Prices

Some big names have jumped into Seadrill Ltd (NYSE:SDRL) headfirst. Aristeia Capital created the biggest position in Seadrill Ltd (NYSE:SDRL). Aristeia Capital had $12.9 million invested in the company at the end of the quarter. Coatue Management also made a $7.4 million investment in the stock during the quarter. The other funds with brand new SDRL positions are Himanshu H. Shah’s Shah Capital Management, Joe DiMenna’s Zweig Dimenna Partners, and Boaz Weinstein’s Saba Capital.

Let’s go over hedge fund activity in other stocks similar to Seadrill Ltd (NYSE:SDRL). We will take a look at Financial Engines Inc (NASDAQ:FNGN), MasTec, Inc. (NYSE:MTZ), Oil States International, Inc. (NYSE:OIS), and Korn/Ferry International (NYSE:KFY). This group of stocks’ market caps are closest to SDRL’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FNGN 10 39255 -2
MTZ 17 251964 -4
OIS 12 104678 -6
KFY 15 41836 -6

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $109 million. That figure was $111 million in SDRL’s case. MasTec, Inc. (NYSE:MTZ) is the most popular stock in this table. On the other hand Financial Engines Inc (NASDAQ:FNGN) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Seadrill Ltd (NYSE:SDRL) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None

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