Seadrill Ltd. (NASDAQ:SDRL) dropped 2.5% during trading on Wednesday . The stock traded as low as $2.70 and last traded at $2.72, with a volume of 2,796,466 shares. The stock had previously closed at $2.79.

SDRL has been the subject of several analyst reports. Evercore ISI reiterated a “sell” rating on shares of Seadrill in a research report on Saturday, July 2nd. Zacks Investment Research cut shares of Seadrill from a “hold” rating to a “sell” rating in a research report on Thursday, June 2nd. Morgan Stanley cut shares of Seadrill from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, July 26th. Credit Suisse Group AG reiterated a “sell” rating and set a $1.00 price target on shares of Seadrill in a research report on Friday, May 27th. Finally, Canaccord Genuity reiterated a “sell” rating on shares of Seadrill in a research report on Sunday, May 29th. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock has an average rating of “Sell” and an average price target of $1.35.

The stock’s market capitalization is $1.37 billion. The stock’s 50-day moving average price is $3.02 and its 200 day moving average price is $3.20.

Seadrill (NASDAQ:SDRL) last announced 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 business had revenue of $891 million for the quarter, compared to analysts’ expectations of $893.48 million. During the same quarter last year, the firm earned $0.86 EPS. The firm’s quarterly revenue was down 28.4% on a year-over-year basis. On average, equities analysts forecast that Seadrill Ltd. will post $1.27 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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