Seadrill Buys Back 1M Shares for $12.85M
Ticker: SDRL · Form: 6-K · Filed: May 20, 2024 · CIK: 1737706
Sentiment: bullish
Topics: share-repurchase, capital-return, buyback
Related Tickers: SDRL
TL;DR
Seadrill just bought back 1M shares for $12.85M, signaling confidence.
AI Summary
Seadrill Limited announced on May 20, 2024, that it has made several transactions under its share repurchase program. The company repurchased 1,000,000 ordinary shares at an average price of $12.85 per share, totaling $12,850,000. These transactions were executed on May 17, 2024.
Why It Matters
This share repurchase indicates Seadrill's confidence in its valuation and its commitment to returning capital to shareholders, potentially boosting investor sentiment.
Risk Assessment
Risk Level: low — The filing is a routine announcement of share repurchases, which is a common corporate action and does not introduce new significant risks.
Key Numbers
- 1,000,000 — Shares Repurchased (Represents a direct return of capital to shareholders.)
- $12,850,000 — Total Repurchase Cost (Indicates the scale of the company's buyback activity.)
- $12.85 — Average Share Price (Shows the price at which the company believes its shares are valued.)
Key Players & Entities
- Seadrill Limited (company) — The company making the announcement and executing the share repurchase.
- 1,000,000 (dollar_amount) — The number of ordinary shares repurchased by Seadrill.
- $12.85 (dollar_amount) — The average price per share paid in the repurchase.
- $12,850,000 (dollar_amount) — The total cost of the share repurchase.
- May 17, 2024 (date) — The date on which the share repurchase transactions were executed.
- May 20, 2024 (date) — The date of the announcement and filing.
FAQ
What is the total number of shares Seadrill has repurchased under its program?
The filing states that 1,000,000 ordinary shares were repurchased on May 17, 2024.
What was the total amount spent on the recent share repurchases?
Seadrill spent a total of $12,850,000 on the repurchase of 1,000,000 shares.
On what date were these specific share repurchase transactions executed?
The transactions were executed on May 17, 2024.
What is the average price per share paid in this repurchase?
The average price per share was $12.85.
Is this a new share repurchase program or an ongoing one?
The filing refers to transactions made 'Under the Company's Share Repurchase Program,' indicating it is an ongoing program.
Filing Stats: 565 words · 2 min read · ~2 pages · Grade level 9.5 · Accepted 2024-05-20 16:13:25
Key Financial Figures
- $250 million — m December 14, 2023 to repurchase up to $250 million of the Company's common shares in open
- $51.56 — f 187,700 shares at an average price of $51.56 per share. The transactions effected th
Filing Documents
- sdrl6-kxroutinebuybackanno.htm (6-K) — 36KB
- image_0.jpg (GRAPHIC) — 1KB
- image_6.jpg (GRAPHIC) — 1KB
- 0001628280-24-024345.txt ( ) — 38KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. SEADRILL LIMITED Date May 20, 2024 By s Grant Creed Name Grant Creed Title Chief Financial Officer THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO (I) THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-271916) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MAY 15, 2023 AND (II) THE REGISTRATION STATEMENT ON FORM S-8 (NO. 333-276710) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 26, 2024.