NEW YORK (TheStreet) -- Shares of Seadrill (SDRL) - Get Report ended the regular trading session higher by 7.47% to $9.64 on Wednesday, after U.S. crude prices reversed losses from earlier in the day to trade in the green, following the Federal Reserve's policy announcement, Reuters reports.

The Fed suggested that it would begin raising interest rates in the near term, and removed the critical word, "patient" from the official text, Reuters noted.

WTI crude was trading up 3.27% to $44.88 a barrel as of 3:51 p.m. ET, while Brent crude was also up 5.16% to $56.27 a barrel.

Seadrill stock is slightly down 0.1% to $9.63 in after-hours trading.

Bermuda-based Seadrill is an offshore drilling contractor providing worldwide offshore drilling services to the oil and gas industry operating in floaters, jack-up rigs and tender rigs segments.

Insight from TheStreet's Research Team:

Jim Cramer commented on Seadrill in a recent post on RealMoney.com. Here is what Cramer had to say about the stock:

The castoff that makes room for SL Green? Nabors. This company, at one time, was the premier land driller in this country. Nabors has some of the best technology and has historically been a favorite of the natural gas industry. It also had 48 offshore oil rigs around the globe. Now, consider these two businesses. Oil companies have been able to cut down the time it takes to drill a well and have driven the drillers to take much lower price on the current jobs, some of the fees being cut by one-third because of the collapse in drilling. The rig count in this country, as maintained by Baker Hughes, has declined for 14 straight weeks and has now fallen an astonishing 46% then the peak just last October.

Worse: offshore rates are collapsing, as you know, from the declines in Transocean (RIG), Seadrill (SDRL), Diamond Offshore (DO) and Ensco(ESV). This one may be among the least desirable in the entire godforsaken industry.

-Jim Cramer, 'Cramer: How Passive Is the S&P? (Part 1)' originally published 3/16/2015 on RealMoney.com.

Want more information like this from Jim Cramer BEFORE your stock moves? Learn more about RealMoney.com now.

Separately, TheStreet Ratings team rates SEADRILL LTD as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate SEADRILL LTD (SDRL) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, weak operating cash flow and a generally disappointing performance in the stock itself." You can view the full analysis from the report here: SDRL Ratings Report