Pacific Drilling SA (NYSE:PACD) has been assigned a consensus recommendation of “Hold” from the eighteen ratings firms that are covering the company. Two analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $6.05.
Several research firms recently weighed in on PACD. Zacks Investment Research lowered Pacific Drilling SA from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Wells Fargo & Co. lowered Pacific Drilling SA from a “market perform” rating to an “underperform” rating in a research report on Monday, July 18th. Evercore ISI began coverage on Pacific Drilling SA in a research report on Wednesday, June 29th. They set a “hold” rating and a $9.00 price target on the stock. Deutsche Bank AG lowered Pacific Drilling SA from a “buy” rating to a “hold” rating and dropped their price target for the company from $10.00 to $6.00 in a research report on Tuesday, August 9th. Finally, Citigroup Inc. reissued a “neutral” rating on shares of Pacific Drilling SA in a research report on Sunday, August 28th.
A number of hedge funds have recently made changes to their positions in PACD. Goldman Sachs Group Inc. increased its stake in shares of 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. Renaissance Technologies LLC increased its stake in shares of 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. Oxford Asset Management acquired a new stake in shares of Pacific Drilling SA during the second quarter valued at $407,000. Finally, KCG Holdings Inc. acquired a new stake in shares of Pacific Drilling SA during the second quarter valued at $225,000. Hedge funds and other institutional investors own 15.67% of the company’s stock.
Shares of Pacific Drilling SA (NYSE:PACD) opened at 3.77 on Monday. The stock has a market capitalization of $79.85 million, a P/E ratio of 2.40 and a beta of 2.47. The company’s 50 day moving average price is $3.59 and its 200 day moving average price is $5.09. Pacific Drilling SA has a one year low of $3.00 and a one year high of $17.80.
Pacific Drilling SA (NYSE:PACD) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.19) earnings per share 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%. On average, equities analysts expect that Pacific Drilling SA will post ($2.92) earnings per share for the current year.
About Pacific Drilling SA
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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