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.

TRADEMARK VIOLATION NOTICE: This article was posted by Daily Political and is the property of of Daily Political. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.dailypolitical.com/2017/09/09/seadrill-ltd-sdrl-shares-gap-down-to-0-29-2.html.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.