Seadrill (NYSE:SDRL) Trading 28.2% Higher

Seadrill Ltd (NYSE:SDRL) shares traded up 28.2% during mid-day trading on Friday . The company traded as high as $2.81 and last traded at $2.68, 3,787,213 shares changed hands during mid-day trading. An increase of 393% from the average session volume of 768,013 shares. The stock had previously closed at $2.09.

A number of analysts recently issued reports on the company. BTIG Research downgraded Seadrill from a “buy” rating to a “neutral” rating and set a $304.00 price target for the company. in a research report on Tuesday, August 13th. ValuEngine upgraded Seadrill from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

The firm has a 50-day moving average price of $3.73 and a two-hundred day moving average price of $6.49. The company has a debt-to-equity ratio of 2.46, a quick ratio of 3.23 and a current ratio of 3.23.

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

Large investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new stake in shares of Seadrill during the first quarter worth $28,000. Virtu Financial LLC bought a new stake in shares of Seadrill during the first quarter worth $95,000. Cubist Systematic Strategies LLC lifted its position in shares of Seadrill by 80.2% during the second quarter. Cubist Systematic Strategies LLC now owns 24,139 shares of the oil and gas company’s stock worth $100,000 after purchasing an additional 10,746 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Seadrill in the second quarter valued at about $101,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Seadrill in the second quarter valued at about $218,000. Institutional investors and hedge funds own 8.93% of the company’s stock.

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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