Short Interest in Seadrill Ltd (NYSE:SDRL) Decreases By 7.4%

Finally, Renaissance Technologies LLC grew its position in shares of Seadrill by 1,124.0% during the 2nd quarter. Renaissance Technologies LLC …

Seadrill logoSeadrill Ltd (NYSE:SDRL) saw a large decrease in short interest in the month of December. As of December 13th, there was short interest totalling 11,840,000 shares, a decrease of 7.4% from the November 28th total of 12,780,000 shares. Based on an average daily trading volume, of 1,350,000 shares, the short-interest ratio is presently 8.8 days. Currently, 16.3% of the company’s shares are short sold.

Separately, ValuEngine upgraded Seadrill from a “hold” rating to a “buy” rating in a report on Friday, January 3rd.

SDRL stock opened at $1.73 on Wednesday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.27. The business’s fifty day simple moving average is $1.76 and its two-hundred day simple moving average is $2.42. Seadrill has a twelve month low of $0.91 and a twelve month high of $10.18.

Seadrill (NYSE:SDRL) last released its earnings results on Thursday, November 21st. The oil and gas company reported ($2.20) earnings per share for the quarter. The business had revenue of $367.00 million during the quarter, compared to analyst estimates of $312.68 million. During the same quarter last year, the firm posted ($2.40) EPS. The firm’s revenue for the quarter was up 47.4% on a year-over-year basis.

A number of hedge funds have recently added to or reduced their stakes in SDRL. Swiss National Bank purchased a new stake in Seadrill in the second quarter worth $494,000. Russell Investments Group Ltd. grew its position in shares of Seadrill by 31.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 686,279 shares of the oil and gas company’s stock worth $2,810,000 after buying an additional 164,296 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new position in shares of Seadrill during the 2nd quarter worth $508,000. Bank of New York Mellon Corp bought a new position in shares of Seadrill during the 2nd quarter worth $712,000. Finally, Renaissance Technologies LLC grew its position in shares of Seadrill by 1,124.0% during the 2nd quarter. Renaissance Technologies LLC now owns 247,900 shares of the oil and gas company’s stock worth $1,031,000 after buying an additional 227,647 shares in the last quarter. Institutional investors and hedge funds own 9.07% of the company’s stock.

Seadrill Company Profile

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: Sell-Side Analysts

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