Seadrill Ltd. (SDRL) Sees Significant Growth in Short Interest
Seadrill Ltd. (NYSE:SDRL) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 82,882,368 shares, an increase of 4.5% from the October 14th total of 79,292,156 shares. Based on an average daily trading volume, of 6,468,606 shares, the days-to-cover ratio is currently 12.8 days. Approximately 24.4% of the shares of the company are short sold.
Several institutional investors have recently made changes to their positions in the company. LPL Financial LLC increased its position in shares of Seadrill by 6.6% in the first quarter. LPL Financial LLC now owns 300,109 shares of the company’s stock worth $894,000 after buying an additional 18,621 shares in the last quarter. Natixis increased its position in shares of Seadrill by 248.9% in the first quarter. Natixis now owns 109,686 shares of the company’s stock worth $362,000 after buying an additional 78,247 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of Seadrill by 28.4% in the first quarter. Teachers Advisors Inc. now owns 406,247 shares of the company’s stock worth $1,341,000 after buying an additional 89,799 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Seadrill during the first quarter worth approximately $337,000. Finally, Babson Capital Management LLC increased its position in shares of Seadrill by 204.0% in the first quarter. Babson Capital Management LLC now owns 218,000 shares of the company’s stock worth $719,000 after buying an additional 146,300 shares in the last quarter. 34.16% of the stock is owned by institutional investors and hedge funds.
Shares of Seadrill (NYSE:SDRL) opened at 2.35 on Friday. The stock’s 50 day moving average is $2.31 and its 200-day moving average is $2.90. Seadrill has a 52 week low of $1.57 and a 52 week high of $7.49. The firm’s market cap is $1.19 billion.
Seadrill Company Profile
Seadrill Limited is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. The Company’s primary business is the ownership and operation of drillships, semi-submersible rigs and jack-up rigs for operations in shallow-, mid-, deep-, and ultra deepwater areas, and in benign and harsh environments.
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