Shares of Seadrill Ltd (NASDAQ:SDRL) fell 8% on Tuesday . The company traded as low as $0.25 and last traded at $0.25. 2,679,202 shares changed hands during trading, a decline of 74% from the average session volume of 10,303,300 shares. The stock had previously closed at $0.27.
Separately, Zacks Investment Research cut shares of Seadrill from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st.
The firm has a 50 day moving average price of $0.32 and a 200 day moving average price of $0.41. The firm’s market capitalization is $126.36 million.
Institutional investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Seadrill by 2.1% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 396,276 shares of the company’s stock valued at $143,000 after purchasing an additional 8,067 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Seadrill by 152.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 530,190 shares of the company’s stock valued at $180,000 after purchasing an additional 319,999 shares in the last quarter. OxFORD Asset Management LLP bought a new position in shares of Seadrill during the 2nd quarter valued at $196,000. LMR Partners LLP raised its holdings in shares of 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 purchasing an additional 1,521,556 shares in the last quarter. Finally, Shah Capital Management raised its holdings in shares of 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 purchasing an additional 1,887,000 shares in the last quarter.
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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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