Shares of Seadrill (NYSE:SDRL) dropped 3.8% during trading on Thursday . The stock traded as low as $0.26 and last traded at $0.27. Approximately 1,694,928 shares traded hands during trading, a decline of 60% from the average daily volume of 4,210,560 shares. The stock had previously closed at $0.26.

Separately, ValuEngine raised Seadrill from a “strong sell” rating to a “sell” rating in a research note on Monday, April 2nd.

The company has a market capitalization of $132.16, a P/E ratio of 0.20 and a beta of 2.90. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.11.

A hedge fund recently bought a new stake in Seadrill stock. Aristeia Capital LLC acquired a new position in shares of Seadrill (NYSE:SDRL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,000,000 shares of the oil and gas company’s stock, valued at approximately $231,000. Aristeia Capital LLC owned 0.20% of Seadrill at the end of the most recent quarter. 12.35% of the stock is currently owned by institutional investors and hedge funds.

About Seadrill

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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