Pacific Drilling S.A. (NYSE:PACD) Receives Average Recommendation of “Sell” from Brokerages
Pacific Drilling S.A. (NYSE:PACD) has received an average rating of “Sell” from the five analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.00.
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Pacific Drilling (NYSE PACD) traded up 0.58% during trading on Monday, reaching $1.72. 25,706 shares of the company’s stock traded hands. The firm has a 50 day moving average of $1.87 and a 200 day moving average of $2.72. Pacific Drilling has a 1-year low of $1.58 and a 1-year high of $7.38. The firm’s market capitalization is $36.61 million.
A hedge fund recently raised its stake in Pacific Drilling stock. California Public Employees Retirement System boosted its position in Pacific Drilling S.A. (NYSE:PACD) by 90.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,610 shares of the oil and gas company’s stock after buying an additional 55,000 shares during the period. California Public Employees Retirement System owned about 0.54% of Pacific Drilling worth $257,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 7.09% of the company’s stock.
About Pacific Drilling
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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