BTIG Research lowered shares of Seadrill (NYSE:SDRL) from a buy rating to a neutral rating in a research report report published on Tuesday morning, BenzingaRatingsTable reports. The firm currently has $304.00 price objective on the oil and gas company’s stock.

Separately, ValuEngine upgraded shares of Seadrill from a sell rating to a hold rating in a report on Thursday, August 1st.

Shares of Seadrill stock opened at $2.42 on Tuesday. The firm has a fifty day moving average of $3.82. Seadrill has a 12-month low of $2.26 and a 12-month high of $26.72. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.46.

Seadrill (NYSE:SDRL) last issued its earnings results on Thursday, May 23rd. The oil and gas company reported ($2.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.31) by ($0.64). The firm had revenue of $302.00 million for the quarter, compared to analyst estimates of $279.00 million. The firm’s revenue was up 6.1% on a year-over-year basis.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Seadrill during the fourth quarter valued at $312,000. Bank of America Corp DE boosted its holdings in shares of Seadrill by 42.6% during the fourth quarter. Bank of America Corp DE now owns 45,272 shares of the oil and gas company’s stock valued at $441,000 after acquiring an additional 13,535 shares during the period. American Century Companies Inc. acquired a new position in shares of Seadrill during the fourth quarter valued at $3,303,000. Deutsche Bank AG boosted its holdings in shares of Seadrill by 44.6% during the fourth quarter. Deutsche Bank AG now owns 154,734 shares of the oil and gas company’s stock valued at $1,508,000 after acquiring an additional 47,730 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Seadrill during the first quarter valued at about $95,000. Institutional investors and hedge funds own 8.93% of the company’s stock.

About Seadrill

Seadrill Ltd. is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. Its primary business is the ownership and operation of drillships, semi-submersible rigs, jack-up rigs, tender rigs for operations in shallow, mid, deep, and ultra deep-water areas, and in benign and harsh environments.

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