Seadrill Buys Back $39.7M in Shares
Ticker: SDRL · Form: 6-K · Filed: Jul 15, 2024 · CIK: 1737706
Sentiment: bullish
Topics: share-repurchase, capital-return, stock-buyback
Related Tickers: SDRL
TL;DR
Seadrill just bought back nearly $40M in stock over two days, showing they think their shares are cheap.
AI Summary
Seadrill Limited announced on July 15, 2024, that it made several transactions under its share repurchase program. The company purchased 1,000,000 ordinary shares at an average price of $19.80 per share, totaling $19.8 million, on July 12, 2024. Additionally, Seadrill repurchased 1,000,000 ordinary shares on July 15, 2024, at an average price of $19.90 per share, for a total of $19.9 million.
Why It Matters
This announcement indicates Seadrill is actively returning capital to shareholders, potentially signaling confidence in its valuation and future prospects.
Risk Assessment
Risk Level: low — The filing is a routine announcement of share repurchases under an existing program, with no new material risks introduced.
Key Numbers
- $19.8M — Share Repurchase (July 12) (Total amount spent on repurchasing shares on July 12, 2024.)
- $19.9M — Share Repurchase (July 15) (Total amount spent on repurchasing shares on July 15, 2024.)
- $39.7M — Total Share Repurchase (Combined value of shares repurchased on July 12 and July 15, 2024.)
Key Players & Entities
- Seadrill Limited (company) — The company making the announcement and executing the share repurchases.
- July 15, 2024 (date) — The date of the announcement and one of the transaction dates.
- July 12, 2024 (date) — The date of the first set of share repurchases.
- 1,000,000 ordinary shares (dollar_amount) — The number of shares repurchased on July 12, 2024.
- $19.80 (dollar_amount) — The average price per share for the July 12, 2024 repurchase.
- $19.8 million (dollar_amount) — The total value of shares repurchased on July 12, 2024.
- 1,000,000 ordinary shares (dollar_amount) — The number of shares repurchased on July 15, 2024.
- $19.90 (dollar_amount) — The average price per share for the July 15, 2024 repurchase.
- $19.9 million (dollar_amount) — The total value of shares repurchased on July 15, 2024.
FAQ
What is the total number of shares Seadrill has repurchased under the program?
The filing states that 1,000,000 shares were repurchased on July 12, 2024, and another 1,000,000 shares on July 15, 2024, totaling 2,000,000 shares.
What was the total cost of the share repurchases announced?
The total cost was $19.8 million on July 12, 2024, and $19.9 million on July 15, 2024, for a combined total of $39.7 million.
When did Seadrill announce these share repurchase transactions?
Seadrill announced these transactions on July 15, 2024.
What is the average price Seadrill paid per share for these repurchases?
Seadrill paid an average of $19.80 per share on July 12, 2024, and $19.90 per share on July 15, 2024.
Does this filing indicate the end of the share repurchase program?
No, this filing reports transactions made 'under the Company's Share Repurchase Program,' implying the program is ongoing and these are just specific executed trades.
Filing Stats: 580 words · 2 min read · ~2 pages · Grade level 8.6 · Accepted 2024-07-15 16:13:51
Key Financial Figures
- $200 million — ogram June 26, 2024 to repurchase up to $200 million of the Company's common shares in open
- $51.36 — f 188,500 shares at an average price of $51.36 per share. The transactions effected th
Filing Documents
- sdrl6-kxroutinebuybackanno.htm (6-K) — 36KB
- image_0a.jpg (GRAPHIC) — 1KB
- image_6a.jpg (GRAPHIC) — 1KB
- 0001628280-24-031880.txt ( ) — 39KB
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 July 15, 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.