Seadrill Ltd (SDRL) Shares Gap Down to $0.30
Seadrill Ltd (NASDAQ:SDRL) gapped down prior to trading on Tuesday . The stock had previously closed at $0.31, but opened at $0.30. Seadrill shares last traded at $0.29, with a volume of 3,437,775 shares changing hands.
Separately, Zacks Investment Research upgraded Seadrill from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a research note on Tuesday, July 4th.
The firm’s market cap is $144.07 million. The firm’s 50 day moving average price is $0.31 and its 200-day moving average price is $0.47.
A number of hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp boosted its position in Seadrill by 23.7% in the second quarter. Van ECK Associates Corp now owns 7,128,920 shares of the company’s stock worth $2,571,000 after purchasing an additional 1,366,977 shares during the last quarter. Shah Capital Management boosted its position in Seadrill by 36.3% in the second quarter. Shah Capital Management now owns 7,089,967 shares of the company’s stock worth $2,556,000 after purchasing an additional 1,887,000 shares during the last quarter. LMR Partners LLP boosted its position in Seadrill by 2,004.1% in the second quarter. LMR Partners LLP now owns 1,597,477 shares of the company’s stock worth $576,000 after purchasing an additional 1,521,556 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Seadrill in the second quarter worth $196,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in Seadrill by 2.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 396,276 shares of the company’s stock worth $143,000 after purchasing an additional 8,067 shares during the last quarter.
Seadrill Company Profile
Seadrill Limited is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. The Company’s primary business is the ownership and operation of drillships, semi-submersible rigs and jack-up rigs for operations in shallow-, mid-, deep-, and ultra deepwater areas, and in benign and harsh environments.
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