Seadrill (NYSE:SDRL) Stock Price Down 7.3%

Shares of Seadrill Ltd (NYSE:SDRL) fell 7.3% during mid-day trading on Wednesday . The stock traded as low as $3.04 and last traded at $2.94, 13,539 shares changed hands during mid-day trading. A decline of 99% from the average session volume of 1,396,627 shares. The stock had previously closed at $3.17.

Several brokerages have recently issued reports on SDRL. BTIG Research cut Seadrill from a “buy” rating to a “neutral” rating and set a $304.00 price objective for the company. in a report on Tuesday, August 13th. ValuEngine raised Seadrill from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 2.63. The business has a fifty day moving average of $2.78 and a two-hundred day moving average of $5.62.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Tuesday, August 20th. The oil and gas company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.27) by $0.87. The business had revenue of $321.00 million during the quarter, compared to analyst estimates of $295.10 million. During the same period in the previous year, the company posted ($0.59) EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year.

A number of large investors have recently bought and sold shares of SDRL. Bank of America Corp DE increased its stake in Seadrill by 42.6% during the 4th quarter. Bank of America Corp DE now owns 45,272 shares of the oil and gas company’s stock worth $441,000 after buying an additional 13,535 shares in the last quarter. IPG Investment Advisors LLC purchased a new stake in shares of Seadrill in the first quarter valued at approximately $781,000. Partners Value Investments LP acquired a new position in Seadrill in the first quarter valued at approximately $2,908,000. Marshall Wace LLP lifted its holdings in Seadrill by 176.8% in the first quarter. Marshall Wace LLP now owns 832,831 shares of the oil and gas company’s stock valued at $6,921,000 after acquiring an additional 532,003 shares during the last quarter. Finally, Shah Capital Management acquired a new position in Seadrill in the second quarter valued at approximately $2,164,000. Institutional investors own 9.53% of the company’s stock.

Seadrill Company Profile (NYSE:SDRL)

Seadrill Ltd. is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. Its primary business is the ownership and operation of drillships, semi-submersible rigs, jack-up rigs, tender rigs for operations in shallow, mid, deep, and ultra deep-water areas, and in benign and harsh environments.

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