Seadrill Ltd. (NASDAQ:SDRL) fell 3.1% during trading on Wednesday . The company traded as low as $3.12 and last traded at $3.15, with a volume of 5,498,285 shares changing hands. The stock had previously closed at $3.25.

A number of research firms have commented on SDRL. Zacks Investment Research raised Seadrill from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Evercore ISI reissued a “sell” rating on shares of Seadrill in a report on Saturday, July 2nd. Bank of America Corp. reissued a “sell” rating and issued a $1.70 target price on shares of Seadrill in a report on Sunday, May 29th. Canaccord Genuity reissued a “sell” rating on shares of Seadrill in a report on Sunday, May 29th. Finally, Credit Suisse Group AG reissued a “sell” rating and issued a $1.00 target price on shares of Seadrill in a report on Friday, May 27th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Seadrill currently has an average rating of “Sell” and an average price target of $1.35.

The firm’s 50-day moving average price is $3.28 and its 200 day moving average price is $3.14. The stock’s market capitalization is $1.58 billion.

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