Seadrill Ltd (NYSE:SDRL) Short Interest Update

Seadrill Ltd (NYSE:SDRL) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 6,280,000 shares, an increase of 18.5% from the May 30th total of 5,300,000 shares. Based on an average trading volume of 939,500 shares, the days-to-cover ratio is currently 6.7 days. Currently, 8.8% of the company’s shares are short sold.

Shares of SDRL stock traded down $0.07 on Friday, reaching $4.25. The company had a trading volume of 408,405 shares, compared to its average volume of 1,356,405. The company has a debt-to-equity ratio of 2.46, a current ratio of 3.23 and a quick ratio of 3.23. The stock’s 50-day simple moving average is $4.05. Seadrill has a 12 month low of $3.00 and a 12 month high of $26.72.

Seadrill (NYSE:SDRL) last issued its quarterly earnings data 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 company had revenue of $302.00 million during the quarter, compared to analyst estimates of $279.00 million. Seadrill’s revenue for the quarter was up 6.1% compared to the same quarter last year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantamental Technologies LLC acquired a new position in shares of Seadrill in the 1st quarter valued at approximately $28,000. NumerixS Investment Technologies Inc acquired a new position in shares of Seadrill in the 4th quarter valued at approximately $94,000. Virtu Financial LLC acquired a new position in shares of Seadrill in the 1st quarter valued at approximately $95,000. BlackRock Inc. acquired a new position in shares of Seadrill in the 4th quarter valued at approximately $312,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of Seadrill by 17.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 39,345 shares of the oil and gas company’s stock valued at $327,000 after purchasing an additional 5,927 shares during the period. Institutional investors and hedge funds own 8.89% of the company’s stock.

About Seadrill

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.

Further Reading: Price-Sales Ratio

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