Seadrill (NYSE:SDRL) Downgraded by BTIG Research to Neutral
BTIG Research downgraded shares of Seadrill (NYSE:SDRL) from a buy rating to a neutral rating in a research report report published on Tuesday morning, BenzingaRatingsTable reports. BTIG Research currently has $304.00 target price on the oil and gas company’s stock.
Separately, ValuEngine upgraded shares of Seadrill from a sell rating to a hold rating in a research note on Thursday, August 1st.
Shares of NYSE SDRL opened at $2.42 on Tuesday. Seadrill has a twelve month low of $2.26 and a twelve month high of $26.72. The stock has a 50 day moving average price of $3.82. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.46.
A number of institutional investors have recently modified their holdings of SDRL. BlackRock Inc. raised 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 acquiring an additional 2,879,843 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Seadrill by 696.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 80,331 shares of the oil and gas company’s stock valued at $334,000 after acquiring an additional 70,251 shares during the period. Northern Trust Corp raised its stake in shares of Seadrill by 57.9% in the 2nd quarter. Northern Trust Corp now owns 66,688 shares of the oil and gas company’s stock valued at $278,000 after acquiring an additional 24,444 shares during the period. Renaissance Technologies LLC raised its stake in shares of Seadrill by 1,124.0% in the 2nd quarter. Renaissance Technologies LLC now owns 247,900 shares of the oil and gas company’s stock valued at $1,031,000 after acquiring an additional 227,647 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Seadrill in the 2nd quarter valued at approximately $712,000. 8.93% of the stock is owned by institutional investors.
Seadrill Company Profile
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.
Further Reading: Do stock splits help investors?
Receive News & Ratings for Seadrill Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seadrill and related companies with MarketBeat.com's FREE daily email newsletter.