Seadrill Ltd (SDRL) Stock Price Down 8%

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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About Seadrill

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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