Shares of Seadrill Ltd (NYSE:SDRL) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $13.21 and last traded at $13.37, with a volume of 5230 shares trading hands. The stock had previously closed at $15.02.

Separately, BTIG Research began coverage on shares of Seadrill in a research note on Wednesday, October 24th. They set a “buy” rating for the company.

The company has a debt-to-equity ratio of 2.09, a quick ratio of 5.09 and a current ratio of 5.09.

Several institutional investors and hedge funds have recently modified their holdings of SDRL. DNB Asset Management AS purchased a new stake in shares of Seadrill during the third quarter valued at $12,191,000. Cullen Frost Bankers Inc. boosted its stake in shares of Seadrill by 146.9% during the third quarter. Cullen Frost Bankers Inc. now owns 33,446 shares of the oil and gas company’s stock valued at $829,000 after purchasing an additional 19,898 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Seadrill by 34.0% during the third quarter. JPMorgan Chase & Co. now owns 347,008 shares of the oil and gas company’s stock valued at $8,599,000 after purchasing an additional 87,992 shares during the period. Folketrygdfondet purchased a new stake in shares of Seadrill during the third quarter valued at $6,307,000. Finally, City Financial Investment Co Ltd purchased a new stake in shares of Seadrill during the third quarter valued at $6,001,000. 8.20% of the stock is owned by hedge funds and other institutional investors.

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Seadrill Company Profile (NYSE:SDRL)

Seadrill Limited, an offshore drilling contractor, provides offshore drilling services to the oil and gas industry worldwide. The company operates in three segments: Floaters, Jack-up Rigs, and Other. The Floaters segment offers drilling, completion, and maintenance services for offshore exploration and production wells.

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