Seadrill Ltd (NASDAQ:SDRL)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $0.23, but opened at $0.28. Seadrill shares last traded at $0.33, with a volume of 9,414,383 shares traded.

A number of equities analysts have recently weighed in on SDRL shares. Societe Generale downgraded shares of Seadrill from a “hold” rating to a “sell” rating in a research note on Wednesday, May 31st. Zacks Investment Research raised shares of Seadrill from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a research note on Tuesday, June 20th. Four research analysts have rated the stock with a sell rating and one has given a hold rating to the company. The company currently has an average rating of “Sell” and an average target price of $0.75.

The firm has a 50-day moving average price of $0.33 and a 200-day moving average price of $0.75. The company’s market cap is $161.98 million.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in 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 acquiring an additional 1,366,977 shares in the last quarter. Shah Capital Management lifted its position in 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 acquiring an additional 1,887,000 shares in the last quarter. LMR Partners LLP lifted its position in 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 acquiring an additional 1,521,556 shares in the last quarter. OxFORD Asset Management LLP bought a new stake in Seadrill in the 2nd quarter valued at $196,000. Finally, Commerzbank Aktiengesellschaft FI lifted its position in 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 acquiring an additional 8,067 shares in the last quarter.

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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.