Seadrill Ltd (SDRL) Shares Gap Down to $0.29
Seadrill Ltd (NASDAQ:SDRL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $0.29, but opened at $0.29. Seadrill shares last traded at $0.24, with a volume of 8,965,122 shares.
A number of equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Seadrill from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Societe Generale lowered shares of Seadrill from a “hold” rating to a “sell” rating in a research note on Wednesday, May 31st.
The stock’s market capitalization is $109.01 million. The company has a 50-day moving average price of $0.31 and a 200-day moving average price of $0.69.
A number of large investors have recently modified their holdings of SDRL. Shah Capital Management increased its stake 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 purchasing an additional 1,887,000 shares in the last quarter. LMR Partners LLP increased its stake 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 purchasing an additional 1,521,556 shares in the last quarter. Van ECK Associates Corp increased its stake 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 purchasing an additional 1,366,977 shares in the last quarter. OxFORD Asset Management LLP bought a new stake in Seadrill in the second quarter valued at approximately $196,000. Finally, Commerzbank Aktiengesellschaft FI increased its stake 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 purchasing an additional 8,067 shares in the last quarter.
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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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