Seadrill Ltd (NYSE:SDRL) dropped 6.9% during mid-day trading on Friday . The stock traded as low as $0.26 and last traded at $0.27. Approximately 4,700,163 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 9,192,641 shares. The stock had previously closed at $0.29.

Separately, ValuEngine upgraded shares of Seadrill from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd.

The company has a debt-to-equity ratio of 0.56, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $139.76, a P/E ratio of -0.23 and a beta of 3.02.

A hedge fund recently raised its stake in Seadrill stock. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Seadrill Ltd (NYSE:SDRL) by 174.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,087,195 shares of the oil and gas company’s stock after buying an additional 690,919 shares during the period. Commerzbank Aktiengesellschaft FI owned about 0.22% of Seadrill worth $381,000 as of its most recent SEC filing. 12.72% of the stock is owned by hedge funds and other institutional investors.

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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.

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