NEW YORK (TheStreet) -- Shares of Seadrill (SDRL) are lower by 1.74% to $11.72 in late morning trading on Wednesday, as oil continued to decline and hit a five-and-a-half year low of $52.51 a barrel, after the Energy Information Administration said crude stockpiles at Cushing, OK gained last week.
The EIA reported that inventories at the delivery point for New York Mercantile Exchange futures rose 2 million barrels to 30.8 million, the most since February, according to Bloomberg.
Brent for February settlement is down 2.04% to $56.72 a barrel as of 11:12 a.m. ET, while WTI crude is down 2.22% to $52.92 a barrel as of 11:13 a.m. ET today.
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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 revenue growth, notable return on equity and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and weak operating cash flow."