Pacific Drilling SA (NYSE:PACD) saw a significant decrease in short interest in December. As of December 13th, there was short interest totalling 1,480,000 shares, a decrease of 5.1% from the November 28th total of 1,560,000 shares. Based on an average daily volume of 142,700 shares, the short-interest ratio is currently 10.4 days. Approximately 2.2% of the company’s stock are short sold.
Shares of NYSE:PACD opened at $4.08 on Wednesday. The company has a current ratio of 6.42, a quick ratio of 5.79 and a debt-to-equity ratio of 0.77. Pacific Drilling has a 1 year low of $2.48 and a 1 year high of $16.00. The business has a fifty day simple moving average of $3.20 and a 200 day simple moving average of $5.79.
Pacific Drilling (NYSE:PACD) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($1.21) earnings per share (EPS) for the quarter. Pacific Drilling had a negative return on equity of 139.23% and a negative net margin of 814.23%. The firm had revenue of $54.32 million for the quarter.
A number of analysts have recently issued reports on the company. Fearnley Fonds upgraded Pacific Drilling from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Thursday, November 7th. ValuEngine upgraded Pacific Drilling from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Nordea Equity Research upgraded Pacific Drilling from a “sell” rating to a “buy” rating in a report on Thursday, October 24th. Finally, Evercore ISI restated a “buy” rating on shares of Pacific Drilling in a report on Thursday, November 21st.
Large investors have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in shares of Pacific Drilling during the second quarter worth $31,000. Tower Research Capital LLC TRC purchased a new stake in shares of Pacific Drilling during the second quarter worth $40,000. Susquehanna International Group LLP purchased a new stake in shares of Pacific Drilling during the second quarter worth $133,000. Trexquant Investment LP purchased a new stake in shares of Pacific Drilling during the second quarter worth $137,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of Pacific Drilling during the second quarter worth $176,000. Institutional investors and hedge funds own 87.96% of the company’s stock.
Pacific Drilling Company Profile
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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