Pacific Drilling SA (NYSE:PACD) Given Consensus Recommendation of “Hold” by Brokerages
Pacific Drilling SA (NYSE:PACD) has earned an average rating of “Hold” from the eighteen analysts that are currently covering the company. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $6.28.
Several analysts recently commented on PACD shares. Zacks Investment Research upgraded Pacific Drilling SA from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Deutsche Bank AG cut Pacific Drilling SA from a “buy” rating to a “hold” rating and dropped their target price for the company from $10.00 to $6.00 in a report on Tuesday, August 9th. Evercore ISI started coverage on Pacific Drilling SA in a report on Wednesday, June 29th. They issued a “hold” rating and a $9.00 target price for the company. Citigroup Inc. restated a “neutral” rating on shares of Pacific Drilling SA in a report on Sunday, August 28th. Finally, Wells Fargo & Co. cut Pacific Drilling SA from a “market perform” rating to an “underperform” rating in a report on Monday, July 18th.
Institutional investors have recently bought and sold shares of the company. KCG Holdings Inc. purchased a new position in Pacific Drilling SA during the second quarter valued at about $225,000. Oxford Asset Management purchased a new position in Pacific Drilling SA during the second quarter valued at about $407,000. Renaissance Technologies LLC raised its position in Pacific Drilling SA by 96.6% in the first quarter. Renaissance Technologies LLC now owns 826,300 shares of the company’s stock valued at $405,000 after buying an additional 405,900 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Pacific Drilling SA by 0.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,177,834 shares of the company’s stock valued at $2,047,000 after buying an additional 14,767 shares during the last quarter. 15.67% of the stock is currently owned by hedge funds and other institutional investors.
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Pacific Drilling SA (NYSE:PACD) traded up 3.98% during mid-day trading on Monday, hitting $4.18. The stock had a trading volume of 107,251 shares. The firm’s 50-day moving average price is $3.63 and its 200 day moving average price is $5.13. Pacific Drilling SA has a one year low of $3.00 and a one year high of $17.80. The company has a market cap of $88.54 million, a PE ratio of 2.66 and a beta of 2.46.
Pacific Drilling SA (NYSE:PACD) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.75) by $0.56. Pacific Drilling SA had a return on equity of 2.60% and a net margin of 3.54%. On average, equities research analysts anticipate that Pacific Drilling SA will post ($2.92) EPS for the current year.
Pacific Drilling SA Company Profile
Pacific Drilling SA is an international offshore drilling contractor. The Company provides offshore drilling services to the oil and natural gas industry through the use of high-specification rigs. The Company’s primary business is to contract its high-specification rigs, related equipment and work crews, primarily on a day rate basis, to drill wells for its clients.
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