Seadrill Ltd. (NASDAQ:SDRL) traded down 2.6% on Tuesday . The company traded as low as $2.98 and last traded at $2.99, with a volume of 2,805,445 shares changing hands. The stock had previously closed at $3.07.

A number of equities research analysts have weighed in on the company. Bank of America Corp. reaffirmed a “sell” rating and set a $1.70 price objective on shares of Seadrill in a report on Sunday, May 29th. Canaccord Genuity reaffirmed a “sell” rating on shares of Seadrill in a report on Sunday, May 29th. Zacks Investment Research raised Seadrill from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. 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. Finally, Morgan Stanley downgraded Seadrill from an “overweight” rating to an “equal weight” rating in a report on Tuesday, July 26th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Seadrill presently has a consensus rating of “Sell” and a consensus price target of $1.35.

The stock’s market cap is $1.46 billion. The stock has a 50-day moving average of $3.09 and a 200-day moving average of $3.17.

Seadrill (NASDAQ:SDRL) last posted its quarterly earnings results on Thursday, May 26th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.12. During the same period in the prior year, the business posted $0.86 earnings per share. The business had revenue of $891 million for the quarter, compared to analysts’ expectations of $893.48 million. The company’s quarterly revenue was down 28.4% on a year-over-year basis. On average, analysts expect that Seadrill Ltd. will post $1.26 earnings per share 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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