Seadrill Buys Back $12.75M in Shares
Ticker: SDRL · Form: 6-K · Filed: Jun 3, 2024 · CIK: 1737706
Sentiment: bullish
Topics: share-repurchase, capital-return, buyback
Related Tickers: SDRL
TL;DR
Seadrill just bought back $12.75M of its own stock, signaling confidence.
AI Summary
Seadrill Limited announced on June 3, 2024, that it made several transactions under its share repurchase program. The company repurchased 1,000,000 ordinary shares at an average price of $12.75 per share, totaling approximately $12.75 million. These repurchases occurred on May 30, 2024, and May 31, 2024.
Why It Matters
This indicates Seadrill's confidence in its own valuation and its commitment to returning capital to shareholders.
Risk Assessment
Risk Level: low — The filing is a routine announcement of share repurchases, which is a common corporate action.
Key Numbers
- 1,000,000 — Shares Repurchased (Represents a significant portion of the company's outstanding shares, indicating active capital return.)
- $12.75 — Average Repurchase Price (Shows the market valuation at which Seadrill believed its shares were attractive for buyback.)
- $12.75 million — Total Buyback Value (Quantifies the capital deployed by Seadrill for share repurchases.)
Key Players & Entities
- Seadrill Limited (company) — The company making the announcement and repurchasing shares.
- 1,000,000 (dollar_amount) — Number of ordinary shares repurchased.
- $12.75 (dollar_amount) — Average price per share repurchased.
- $12.75 million (dollar_amount) — Total value of shares repurchased.
- May 30, 2024 (date) — Date of a share repurchase transaction.
- May 31, 2024 (date) — Date of a share repurchase transaction.
- June 3, 2024 (date) — Date of the announcement.
FAQ
What is the total number of shares Seadrill is authorized to repurchase under its current program?
The filing does not specify the total authorized amount for the share repurchase program, only the transactions made.
Are there any restrictions or conditions on the share repurchase program mentioned in the filing?
The filing does not detail any specific restrictions or conditions beyond the announcement of the transactions made.
What is the source of funds for these share repurchases?
The filing does not specify the source of funds for the share repurchases.
Does Seadrill intend to continue repurchasing shares at this rate?
The filing announces transactions made and does not provide forward-looking statements on the continuation of the repurchase rate.
What impact do these repurchases have on Seadrill's earnings per share (EPS)?
While repurchasing shares typically increases EPS by reducing the number of outstanding shares, the filing does not provide specific EPS impact calculations.
Filing Stats: 565 words · 2 min read · ~2 pages · Grade level 9.5 · Accepted 2024-06-03 16:11:23
Key Financial Figures
- $250 million — m December 14, 2023 to repurchase up to $250 million of the Company's common shares in open
- $51.40 — f 148,494 shares at an average price of $51.40 per share. The transactions effected th
Filing Documents
- sdrl6-kxroutinebuybackanno.htm (6-K) — 36KB
- image_0.jpg (GRAPHIC) — 1KB
- image_6.jpg (GRAPHIC) — 1KB
- 0001628280-24-026317.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 June 3, 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.