Shares of Seadrill Ltd (NYSE:SDRL) reached a new 52-week low on Friday . The stock traded as low as $1.67 and last traded at $1.68, with a volume of 23934 shares trading hands. The stock had previously closed at $1.74.

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

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 has a fifty day simple moving average of $1.95 and a 200-day simple moving average of $3.84.

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

Institutional investors have recently bought and sold shares of the stock. Shah Capital Management bought a new position in shares of Seadrill during the 2nd quarter valued at approximately $2,164,000. Swiss National Bank purchased a new stake in Seadrill during the second quarter valued at approximately $494,000. Russell Investments Group Ltd. increased its holdings in Seadrill by 31.5% during the second quarter. Russell Investments Group Ltd. now owns 686,279 shares of the oil and gas company’s stock valued at $2,810,000 after buying an additional 164,296 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new position in shares of Seadrill in the second quarter worth approximately $508,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Seadrill in the second quarter worth approximately $712,000. Institutional investors and hedge funds own 9.76% 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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