Seadrill Limited (SDRL) Sees Large Decline in Short Interest

Seadrill Limited (NYSE:SDRL) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 69,191,999 shares, a decline of 9.5% from the June 15th total of 76,449,236 shares. Approximately 19.5% of the shares of the company are short sold. Based on an average daily volume of 10,502,422 shares, the days-to-cover ratio is presently 6.6 days.

SDRL has been the subject of a number of research reports. ValuEngine downgraded Seadrill Limited from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub raised Seadrill Limited from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Societe Generale cut Seadrill Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, May 31st.

Seadrill Limited (NYSE SDRL) opened at 0.30 on Friday. The company’s 50-day moving average price is $0.37 and its 200 day moving average price is $0.95. Seadrill Limited has a 12 month low of $0.28 and a 12 month high of $4.59. The stock’s market capitalization is $151.33 million.

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About Seadrill Limited

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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