Seadrill (NYSE:SDRL) Trading 7.5% Higher

Shares of Seadrill Ltd (NYSE:SDRL) traded up 7.5% during mid-day trading on Thursday . The stock traded as high as $3.55 and last traded at $3.44. 1,031,825 shares changed hands during mid-day trading, an increase of 65% from the average session volume of 627,147 shares. The stock had previously closed at $3.20.

The company has a debt-to-equity ratio of 2.46, a quick ratio of 3.23 and a current ratio of 3.23.

Seadrill (NYSE:SDRL) last issued its earnings results on Thursday, May 23rd. The oil and gas company reported ($2.95) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.31) by ($0.64). The business had revenue of $302.00 million during the quarter, compared to analysts’ expectations of $279.00 million. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year.

Several institutional investors and hedge funds have recently modified their holdings of SDRL. Prescott Group Capital Management L.L.C. raised its stake in shares of Seadrill by 420.1% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 241,824 shares of the oil and gas company’s stock valued at $2,358,000 after purchasing an additional 195,325 shares during the period. Virtu Financial LLC bought a new stake in shares of Seadrill during the 1st quarter valued at $95,000. Odey Asset Management Group Ltd raised its stake in shares of Seadrill by 244.0% during the 4th quarter. Odey Asset Management Group Ltd now owns 4,309,712 shares of the oil and gas company’s stock valued at $42,020,000 after purchasing an additional 3,057,010 shares during the period. 683 Capital Management LLC bought a new stake in shares of Seadrill during the 4th quarter valued at $697,000. Finally, Folketrygdfondet raised its stake in shares of Seadrill by 146.7% during the 4th quarter. Folketrygdfondet now owns 627,821 shares of the oil and gas company’s stock valued at $6,121,000 after purchasing an additional 373,299 shares during the period. Hedge funds and other institutional investors own 8.89% of the company’s stock.

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Seadrill Company Profile (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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