Seadrill (NYSE:SDRL) Shares Gap Up to $2.68

Seadrill Ltd (NYSE:SDRL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $3.09, but opened at $2.68. Seadrill shares last traded at $2.70, with a volume of 37,939 shares traded.

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

The business’s fifty day simple moving average is $3.56 and its 200 day simple moving average is $6.38. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.46.

Seadrill (NYSE:SDRL) last issued its quarterly earnings data on Tuesday, August 20th. The oil and gas company reported ($1.40) EPS for the quarter, topping analysts’ consensus estimates of ($2.27) by $0.87. The company had revenue of $321.00 million for the quarter, compared to the consensus estimate of $295.10 million. During the same period in the prior year, the company earned ($0.59) EPS. The firm’s revenue was down 7.8% compared to the same quarter last year.

A number of large investors have recently modified their holdings of SDRL. BlackRock Inc. boosted its stake in shares of Seadrill by 7,978.1% in the 2nd quarter. BlackRock Inc. now owns 2,915,940 shares of the oil and gas company’s stock valued at $12,129,000 after purchasing an additional 2,879,843 shares during the last quarter. NINE MASTS CAPITAL Ltd bought a new position in shares of Seadrill in the 1st quarter valued at about $5,652,000. Marshall Wace LLP boosted its stake in shares of Seadrill by 176.8% in the 1st quarter. Marshall Wace LLP now owns 832,831 shares of the oil and gas company’s stock valued at $6,921,000 after purchasing an additional 532,003 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Seadrill by 37.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,927,004 shares of the oil and gas company’s stock valued at $8,016,000 after purchasing an additional 524,757 shares during the last quarter. Finally, Shah Capital Management bought a new position in shares of Seadrill in the 2nd quarter valued at about $2,164,000. 9.41% of the stock is currently owned by hedge funds and other institutional investors.

About Seadrill (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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