Seadrill Ltd (NASDAQ:SDRL) shares saw unusually-high trading volume on Friday . Approximately 39,401,726 shares changed hands during trading, an increase of 488% from the previous session’s volume of 6,702,550 shares.The stock last traded at $0.28 and had previously closed at $0.19.

SDRL has been the topic of several research analyst reports. Societe Generale lowered Seadrill from a “hold” rating to a “sell” rating in a research report on Wednesday, May 31st. Zacks Investment Research raised Seadrill from a “hold” rating to a “buy” rating and set a $0.50 target price on the stock in a research report on Tuesday, June 20th. Four research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The company presently has an average rating of “Sell” and a consensus price target of $0.75.

The stock has a 50-day moving average price of $0.33 and a 200-day moving average price of $0.75. The stock’s market cap is $141.24 million.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Seadrill by 23.7% in the second quarter. Van ECK Associates Corp now owns 7,128,920 shares of the company’s stock valued at $2,571,000 after buying an additional 1,366,977 shares during the period. Shah Capital Management boosted its position in Seadrill by 36.3% in the second quarter. Shah Capital Management now owns 7,089,967 shares of the company’s stock valued at $2,556,000 after buying an additional 1,887,000 shares during the period. LMR Partners LLP boosted its position in Seadrill by 2,004.1% in the second quarter. LMR Partners LLP now owns 1,597,477 shares of the company’s stock valued at $576,000 after buying an additional 1,521,556 shares during the period. OxFORD Asset Management LLP acquired a new position in Seadrill during the second quarter valued at approximately $196,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in Seadrill by 2.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 396,276 shares of the company’s stock valued at $143,000 after buying an additional 8,067 shares during the period.

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About Seadrill

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-, mid-, deep-, and ultra deepwater areas, and in benign and harsh environments.

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