Seadrill Ltd (SDRL) Shares Gap Up to $0.36
Seadrill Ltd (NASDAQ:SDRL)’s share price gapped up before the market opened on Friday . The stock had previously closed at $0.36, but opened at $0.36. Seadrill shares last traded at $0.37, with a volume of 4,408,478 shares trading hands.
Separately, Zacks Investment Research upgraded Seadrill from a “hold” rating to a “buy” rating and set a $0.50 target price for the company in a report on Tuesday, June 20th.
The stock has a 50-day moving average price of $0.28 and a 200-day moving average price of $0.60. The stock’s market capitalization is $176.56 million.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI raised its position in shares of Seadrill by 2.1% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 396,276 shares of the company’s stock worth $143,000 after acquiring an additional 8,067 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in Seadrill during the 2nd quarter valued at about $196,000. LMR Partners LLP increased its position in Seadrill by 2,004.1% during the 2nd quarter. LMR Partners LLP now owns 1,597,477 shares of the company’s stock valued at $576,000 after buying an additional 1,521,556 shares in the last quarter. Shah Capital Management increased its position in Seadrill by 36.3% during the 2nd quarter. Shah Capital Management now owns 7,089,967 shares of the company’s stock valued at $2,556,000 after buying an additional 1,887,000 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Seadrill by 23.7% during the 2nd quarter. Van ECK Associates Corp now owns 7,128,920 shares of the company’s stock valued at $2,571,000 after buying an additional 1,366,977 shares in 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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