Seadrill Ltd (SDRL) Trading Up 47.4%
Seadrill Ltd (NASDAQ:SDRL) was up 47.4% on Monday . The company traded as high as $0.36 and last traded at $0.28. Approximately 39,422,467 shares changed hands during trading, an increase of 450% from the average daily volume of 7,172,480 shares. The stock had previously closed at $0.19.
A number of equities research analysts have recently weighed in on SDRL shares. Zacks Investment Research upgraded Seadrill from a “hold” rating to a “buy” rating and set a $0.50 target price for the company in a research report on Tuesday, June 20th. Societe Generale downgraded Seadrill from a “hold” rating to a “sell” rating in a report on Wednesday, May 31st. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Seadrill presently has an average rating of “Sell” and a consensus target price of $0.75.
The firm has a 50-day moving average of $0.33 and a 200-day moving average of $0.75. The stock’s market capitalization is $141.24 million.
Several institutional investors and hedge funds have recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI grew its stake in shares of Seadrill by 2.1% in the 2nd 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. OxFORD Asset Management LLP acquired a new stake in shares of Seadrill in the 2nd quarter valued at about $196,000. Van ECK Associates Corp grew its stake in shares of Seadrill by 23.7% in the 2nd 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. LMR Partners LLP grew its stake in shares of Seadrill by 2,004.1% in the 2nd 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. Finally, Shah Capital Management grew its stake in shares of Seadrill by 36.3% in the 2nd 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.
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Seadrill Company Profile
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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