Seadrill Ltd (NYSE:SDRL) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 9,390,000 shares, a growth of 14.4% from the June 30th total of 8,210,000 shares. Approximately 13.2% of the company’s stock are short sold. Based on an average daily trading volume, of 1,030,000 shares, the short-interest ratio is currently 9.1 days.

SDRL has been the topic of a number of research reports. ValuEngine upgraded Seadrill from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. BTIG Research downgraded Seadrill from a “buy” rating to a “neutral” rating and set a $304.00 price objective on the stock. in a report on Tuesday.

NYSE:SDRL traded down $0.19 during mid-day trading on Wednesday, reaching $2.24. The stock had a trading volume of 574,867 shares, compared to its average volume of 744,650. The company has a 50 day moving average of $3.79. Seadrill has a fifty-two week low of $2.15 and a fifty-two week high of $26.72. 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 announced its quarterly earnings results on Thursday, May 23rd. The oil and gas company reported ($2.95) EPS for the quarter, missing the consensus estimate of ($2.31) by ($0.64). The business had revenue of $302.00 million during the quarter, compared to the consensus estimate of $279.00 million. The business’s quarterly revenue was up 6.1% on a year-over-year basis.

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in Seadrill during the first quarter valued at approximately $95,000. Royal London Asset Management Ltd. grew its holdings in Seadrill by 8.3% during the first quarter. Royal London Asset Management Ltd. now owns 156,163 shares of the oil and gas company’s stock valued at $1,299,000 after purchasing an additional 11,999 shares during the last quarter. Deutsche Bank AG grew its holdings in 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 purchasing an additional 47,730 shares during the last quarter. BlackRock Inc. acquired a new position in Seadrill during the fourth quarter valued at approximately $312,000. Finally, Marshall Wace LLP grew its holdings in Seadrill by 176.8% during the first 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. Institutional investors 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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