Pacific Drilling SA (PACD) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Pacific Drilling SA (NYSE:PACD) from a hold rating to a buy rating in a research note issued to investors on Saturday. They currently have $4.25 price target on the stock.

According to Zacks, “Pacific Drilling S.A. provides ultra-deepwater drilling services to the oil and natural gas industry. The Company rents its drilling rigs, related equipment and work crews to drill wells for its customers. Pacific Drilling S.A. is based in Luxembourg. “

Several other equities research analysts also recently issued reports on PACD. Deutsche Bank AG downgraded Pacific Drilling SA from a buy rating to a hold rating and cut their price target for the company from $10.00 to $6.00 in a report on Tuesday, August 9th. Wells Fargo & Co. downgraded Pacific Drilling SA from a market perform rating to an underperform rating in a report on Monday, July 18th. Evercore ISI began coverage on Pacific Drilling SA in a report on Wednesday, June 29th. They set a hold rating and a $9.00 price target for the company. Finally, Citigroup Inc. reaffirmed a neutral rating on shares of Pacific Drilling SA in a report on Sunday, August 28th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $9.09.

Shares of Pacific Drilling SA (NYSE:PACD) opened at 3.77 on Friday. Pacific Drilling SA has a 52 week low of $3.00 and a 52 week high of $17.80. The firm has a market cap of $79.85 million, a P/E ratio of 2.40 and a beta of 2.47. The stock has a 50 day moving average of $3.59 and a 200 day moving average of $5.09.

Pacific Drilling SA (NYSE:PACD) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the 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%. Analysts anticipate that Pacific Drilling SA will post ($2.92) earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KCG Holdings Inc. acquired a new position in Pacific Drilling SA during the second quarter worth about $225,000. Oxford Asset Management acquired a new position in Pacific Drilling SA during the second quarter worth about $407,000. Renaissance Technologies LLC boosted 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 worth $405,000 after buying an additional 405,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted 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 worth $2,047,000 after buying an additional 14,767 shares in the last quarter. Hedge funds and other institutional investors own 15.67% of the company’s stock.

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.

5 Day Chart for NYSE:PACD

Get a free copy of the Zacks research report on Pacific Drilling SA (PACD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Latest News

President Obama Take Steps to Block Chip Maker Acquisition by Chinese Company
President Obama Take Steps to Block Chip Maker Acquisition by Chinese Company
GoPro Planning to Cut 200 Jobs
GoPro Planning to Cut 200 Jobs
Early Data from Cyber Monday Shows Sales Increasing Over 9%
Early Data from Cyber Monday Shows Sales Increasing Over 9%
Retailers Anticipating Strong Support for Small Business Saturday
Retailers Anticipating Strong Support for Small Business Saturday
Eli Lilly Alzheimer’s Drug Does Not Pass the Test
Eli Lilly Alzheimer’s Drug Does Not Pass the Test
Disney to Build Larger Hong Kong Kingdom
Disney to Build Larger Hong Kong Kingdom


 
© 2006-2016 Ticker Report. Google+.