Seadrill (NYSE:SDRL) Hits New 52-Week Low at $1.39

Seadrill Ltd (NYSE:SDRL)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $1.39 and last traded at $1.40, with a volume of 55442 shares changing hands. The stock had previously closed at $1.43.

SDRL has been the topic of several recent analyst reports. ValuEngine upgraded shares of Seadrill from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. BTIG Research cut shares of Seadrill from a “buy” rating to a “neutral” rating and set a $304.00 price objective on the stock. in a research report on Tuesday, August 13th.

The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 2.63. The firm’s 50-day moving average price is $1.85 and its 200-day moving average price is $3.60.

Seadrill (NYSE:SDRL) last released its quarterly earnings data on Tuesday, August 20th. The oil and gas company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.27) by $0.87. The company had revenue of $321.00 million for the quarter, compared to the consensus estimate of $295.10 million. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.59) EPS.

Several institutional investors have recently added to or reduced their stakes in SDRL. Cubist Systematic Strategies LLC raised its position in shares of Seadrill by 80.2% during the second quarter. Cubist Systematic Strategies LLC now owns 24,139 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 10,746 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Seadrill during the second quarter valued at approximately $101,000. Rhumbline Advisers raised its position in shares of Seadrill by 27.9% during the third quarter. Rhumbline Advisers now owns 68,117 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 14,849 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Seadrill during the second quarter valued at approximately $218,000. Finally, Northern Trust Corp raised its position in shares of Seadrill by 57.9% during the second quarter. Northern Trust Corp now owns 66,688 shares of the oil and gas company’s stock valued at $278,000 after buying an additional 24,444 shares during the last quarter. Hedge funds and other institutional investors own 10.07% of the company’s stock.

About Seadrill (NYSE:SDRL)

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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