Shares of Seadrill Ltd. (NASDAQ:SDRL) shot up 6.4% during trading on Thursday . The company traded as high as $2.82 and last traded at $2.81, with a volume of 4,336,678 shares changing hands. The stock had previously closed at $2.64.

A number of brokerages have commented on SDRL. Morgan Stanley cut shares of Seadrill from an “overweight” rating to an “equal weight” rating in a report on Tuesday, July 26th. Evercore ISI reaffirmed a “sell” rating on shares of Seadrill in a report on Saturday, July 2nd. Zacks Investment Research raised shares of Seadrill from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Bank of America Corp. reissued a “sell” rating and issued a $1.70 price objective on shares of Seadrill in a research note on Sunday, May 29th. Finally, Canaccord Genuity reissued a “sell” rating on shares of Seadrill in a research note on Sunday, May 29th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company presently has an average rating of “Sell” and a consensus target price of $1.35.

The stock has a 50 day moving average price of $3.13 and a 200 day moving average price of $3.14. The stock’s market capitalization is $1.43 billion.

Seadrill (NASDAQ:SDRL) last issued its quarterly earnings data 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. The firm had revenue of $891 million for the quarter, compared to analysts’ expectations of $893.48 million. The firm’s revenue was down 28.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Equities analysts anticipate that Seadrill Ltd. will post $1.26 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.