Seadrill (NYSE:SDRL) Shares Up 7.3%

Shares of Seadrill Ltd (NYSE:SDRL) shot up 7.3% on Friday . The stock traded as high as $1.18 and last traded at $1.18, 632,287 shares were traded during mid-day trading. A decline of 34% from the average session volume of 962,911 shares. The stock had previously closed at $1.10.

Separately, BTIG Research downgraded Seadrill from a “buy” rating to a “neutral” rating and set a $304.00 price objective on the stock. in a research note on Tuesday, August 13th.

The stock has a fifty day simple moving average of $1.52 and a two-hundred day simple moving average of $2.87. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.27.

Seadrill (NYSE:SDRL) last posted its quarterly earnings results on Thursday, November 21st. The oil and gas company reported ($2.20) earnings per share (EPS) for the quarter. The business had revenue of $367.00 million during the quarter, compared to analysts’ expectations of $312.68 million. The business’s quarterly revenue was up 47.4% on a year-over-year basis. During the same quarter last year, the firm earned ($2.40) EPS.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in shares of Seadrill by 509.0% during the third quarter. Millennium Management LLC now owns 64,120 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 53,592 shares during the period. Barclays PLC grew its stake in shares of Seadrill by 118.0% in the 3rd quarter. Barclays PLC now owns 386,956 shares of the oil and gas company’s stock valued at $812,000 after buying an additional 2,538,210 shares during the period. State Street Corp grew its stake in shares of Seadrill by 43.5% in the 3rd quarter. State Street Corp now owns 1,243,657 shares of the oil and gas company’s stock valued at $2,612,000 after buying an additional 377,058 shares during the period. Russell Investments Group Ltd. increased its position in Seadrill by 232.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,284,101 shares of the oil and gas company’s stock valued at $4,848,000 after buying an additional 1,597,822 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Seadrill by 27.9% in the 3rd quarter. Rhumbline Advisers now owns 68,117 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 14,849 shares in the last quarter. 9.07% of the stock is owned by hedge funds and other institutional investors.

Seadrill Company Profile (NYSE:SDRL)

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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