Shares of Seadrill Ltd. (NASDAQ:SDRL) dropped 3.8% during mid-day trading on Thursday . The company traded as low as $3.04 and last traded at $3.06, with a volume of 6,779,495 shares. The stock had previously closed at $3.18.

SDRL has been the subject of a number of recent analyst reports. Credit Suisse Group AG restated a “sell” rating and set a $1.00 price target on shares of Seadrill in a report on Friday, May 27th. Canaccord Genuity restated a “sell” rating on shares of Seadrill in a report on Sunday, May 29th. Bank of America Corp. restated a “sell” rating and set a $1.70 price target on shares of Seadrill in a report on Sunday, May 29th. Zacks Investment Research downgraded shares of Seadrill from a “hold” rating to a “sell” rating in a report on Thursday, June 2nd. Finally, Evercore ISI restated a “sell” rating on shares of Seadrill in a report on Saturday, July 2nd. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. The company currently has an average rating of “Sell” and an average target price of $1.35.

The stock’s market capitalization is $1.53 billion. The stock has a 50 day moving average price of $3.28 and a 200 day moving average price of $3.16.

Seadrill (NASDAQ:SDRL) last issued its quarterly earnings results on Thursday, May 26th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.12. During the same quarter last year, the business posted $0.86 EPS. The firm had revenue of $891 million for the quarter, compared to analyst estimates of $893.48 million. The firm’s revenue for the quarter was down 28.4% on a year-over-year basis. Analysts forecast that Seadrill Ltd. will post $1.16 earnings per share for the current fiscal year.

Seadrill Limited is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. The Company’s primary business is the ownership and operation of drillships, semi-submersible rigs and jack-up rigs for operations in shallow and deep water areas, as well as benign and harsh environments.

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