Pacific Drilling (NYSE:PACD) Upgraded at Fearnley Fonds

Fearnley Fonds upgraded shares of Pacific Drilling (NYSE:PACD) from a hold rating to a buy rating in a research note published on Thursday, The Fly reports. Fearnley Fonds currently has $7.00 price objective on the stock.

PACD has been the subject of a number of other research reports. ValuEngine upgraded Pacific Drilling from a hold rating to a buy rating in a report on Wednesday, October 2nd. Nordea Equity Research upgraded Pacific Drilling from a sell rating to a buy rating in a report on Thursday, October 24th.

Pacific Drilling stock traded up $0.73 during mid-day trading on Thursday, hitting $3.50. 441,972 shares of the company’s stock were exchanged, compared to its average volume of 96,638. Pacific Drilling has a fifty-two week low of $2.48 and a fifty-two week high of $3,500.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 7.94 and a current ratio of 8.74. The company’s 50 day simple moving average is $3.32 and its 200-day simple moving average is $8.66.

Pacific Drilling (NYSE:PACD) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($1.21) EPS for the quarter. The business had revenue of $54.32 million for the quarter. Pacific Drilling had a negative return on equity of 133.18% and a negative net margin of 827.68%.

Hedge funds have recently added to or reduced their stakes in the business. Highbridge Capital Management LLC increased its holdings in Pacific Drilling by 2.0% during the 2nd quarter. Highbridge Capital Management LLC now owns 2,142,124 shares of the company’s stock worth $26,991,000 after purchasing an additional 42,618 shares in the last quarter. BlackRock Inc. bought a new position in shares of Pacific Drilling in the 2nd quarter valued at about $17,791,000. Northern Trust Corp bought a new position in shares of Pacific Drilling in the 2nd quarter valued at about $316,000. Wells Fargo & Company MN bought a new position in shares of Pacific Drilling in the 2nd quarter valued at about $176,000. Finally, Dupont Capital Management Corp grew its holdings in shares of Pacific Drilling by 11.4% in the 3rd quarter. Dupont Capital Management Corp now owns 58,497 shares of the company’s stock valued at $229,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 86.17% of the company’s stock.

Pacific Drilling Company Profile

Pacific Drilling SA, together with its subsidiaries, operates as an offshore drilling contractor. It provides offshore drilling services to the oil and natural gas industry. The company contracts its fleet of rigs to drill wells for its customers. It has a fleet of seven drillships. The company was founded in 2006 and is headquartered in Houston, Texas.

Featured Story: If I purchase shares through a brokerage account, am I the holder of record?

The Fly

Receive News & Ratings for Pacific Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Drilling and related companies with MarketBeat.com's FREE daily email newsletter.