Today’s Research Reports on Trending Tickers: DryShips and Seadrill
U.S. markets eked higher Wednesday to close at a new record high for the second consecutive session. On Wednesday, all three major indexes closed at record highs in the same session for the first time since July 26th. The Dow Jones Industrial Average gained 0.18 percent to close at 22,158.18, while the S&P 500 Index increased 0.08 percent to close at 2,498.37. The Nasdaq Composite Index rose 0.09 percent to close at 6,460.19. Markets were buoyed by rising oil prices on Wednesday. The U.S. Energy Information Administration reported domestic crude supplies increased by 5.9 million barrels for the week ended September 8th, which was below analysts’ expectations of an increase of 10.1 million barrels, according to analysts polled by S&P Global Platts.
“On the one hand, the smaller-than-anticipated crude [supply] build, coupled with large draws to product stocks should provide support to crude prices, but continued weakness in refinery demand and rebounding production could serve to overshadow this signal,” Troy Vincent, a Clipper Data oil analyst, told MarketWatch.
RDI Initiates Coverage on:
DryShips stock edged 0.82% higher Wednesday, to close the day at $2.47. The stock recorded a trading volume of 2,036,700 shares, which was below its three months average volume of 10,348,700 shares. In the last year DryShips shares have traded in a range of 0.98 – 799,680.00. The share price has gained 152.04% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. Moreover, the stock’s 50-day moving average of $2.35 is below its 200-day moving average of $401.20. Shares of DryShips have fallen approximately 99.99 percent year-to-date.
Access RDI’s DryShips Inc. Research Report at:
On Wednesday, shares in Seadrill recorded a trading volume of 38,414,382 shares, which was above the three months average volume of 7,922,620 shares. The stock ended the day 20.25% higher at 0.28. The share price has gained 83.33% from its 52 week low with a 52 week trading range of 0.15 – 4.59.The company’s shares are currently trading below their 200-day moving average. Moreover, the stock’s 50-day moving average of $0.29 is below its 200-day moving average of $0.65. Shares of Seadrill have fallen approximately 91.94 percent year-to-date.
Access RDI’s Seadrill Ltd. Research Report at:
Our Actionable Research on DryShips Inc. (NASDAQ:DRYS) and Seadrill Ltd. (NYSE:SDRL) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.