Pacific Drilling SA (NYSE:PACD)’s stock price traded up 16.9% on Wednesday . The company traded as high as $3.11 and last traded at $3.05, 227,600 shares were traded during trading. An increase of 129% from the average session volume of 99,474 shares. The stock had previously closed at $2.61.
A number of equities analysts have recently weighed in on the stock. Evercore ISI reaffirmed a “buy” rating on shares of Pacific Drilling in a research note on Thursday, November 21st. Fearnley Fonds upgraded shares of Pacific Drilling from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Thursday, November 7th. ValuEngine upgraded shares of Pacific Drilling from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Nordea Equity Research upgraded shares of Pacific Drilling from a “sell” rating to a “buy” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $7.00.
The company has a quick ratio of 5.79, a current ratio of 6.42 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average is $2.95 and its 200 day moving average is $7.20.
Pacific Drilling (NYSE:PACD) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($1.21) EPS for the quarter. Pacific Drilling had a negative return on equity of 139.23% and a negative net margin of 814.23%. The business had revenue of $54.32 million during the quarter.
Several institutional investors have recently added to or reduced their stakes in the stock. Strategic Value Partners LLC boosted its position in shares of Pacific Drilling by 3.4% in the 3rd quarter. Strategic Value Partners LLC now owns 19,986,519 shares of the company’s stock worth $78,147,000 after buying an additional 662,605 shares in the last quarter. Highbridge Capital Management LLC lifted its holdings in Pacific Drilling by 2.0% in the 2nd quarter. Highbridge Capital Management LLC now owns 2,142,124 shares of the company’s stock valued at $26,991,000 after purchasing an additional 42,618 shares in the last quarter. BlackRock Inc. purchased a new position in Pacific Drilling in the 2nd quarter valued at about $17,791,000. State Street Corp lifted its holdings in Pacific Drilling by 13.3% in the 3rd quarter. State Street Corp now owns 428,123 shares of the company’s stock valued at $1,674,000 after purchasing an additional 50,108 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Pacific Drilling by 154.3% in the 3rd quarter. Millennium Management LLC now owns 152,553 shares of the company’s stock valued at $596,000 after purchasing an additional 92,553 shares in the last quarter. Institutional investors and hedge funds own 87.97% of the company’s stock.
Pacific Drilling Company Profile (NYSE:PACD)
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.
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