Seadrill Ltd (SDRL) Sees Unusually-High Trading Volume
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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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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