NEW YORK (TheStreet) -- Shares of Seadrill (SDRL) were retreating in mid-afternoon trading on Friday after the U.S. oil-rig count increased by three to 428 this past week, according to oilfield services company Baker Hughes (BHI).
Crude oil (WTI) was recently sliding 1.25% to $49.81 per barrel while Brent crude was down 1.16% to $51.90 per barrel.
Also weighing on oil prices today, Russian energy minister Alexander Novak weakened hopes that OPEC members will agree to a coordination production cut in Istanbul next week, the Wall Street Journal reports.
Seadrill is a Bermuda-based offshore drilling contractor.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.
Seadrill's weaknesses include its generally high debt management risk, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
You can view the full analysis from the report here: SDRL
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.