State Street Corp lifted its position in Pacific Drilling SA (NYSE:PACD) by 13.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 428,123 shares of the company’s stock after purchasing an additional 50,108 shares during the quarter. State Street Corp owned 0.57% of Pacific Drilling worth $1,674,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Highbridge Capital Management LLC raised its stake in shares of Pacific Drilling by 2.0% in the second quarter. Highbridge Capital Management LLC now owns 2,142,124 shares of the company’s stock valued at $26,991,000 after purchasing an additional 42,618 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Pacific Drilling in the second quarter valued at $17,791,000. Renaissance Technologies LLC acquired a new position in shares of Pacific Drilling in the second quarter valued at $968,000. Vanguard Group Inc. acquired a new position in shares of Pacific Drilling in the second quarter valued at $884,000. Finally, Dupont Capital Management Corp raised its stake in shares of Pacific Drilling by 11.4% in the third quarter. Dupont Capital Management Corp now owns 58,497 shares of the company’s stock valued at $229,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.
A number of research analysts recently commented 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 research note on Thursday, November 7th. Nordea Equity Research upgraded Pacific Drilling from a “sell” rating to a “buy” rating in a research note on Thursday, October 24th. Evercore ISI restated a “buy” rating on shares of Pacific Drilling in a research note on Thursday, November 21st. Finally, ValuEngine upgraded Pacific Drilling from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd.
NYSE:PACD traded down $0.29 during trading hours on Friday, reaching $2.60. The company had a trading volume of 813,559 shares, compared to its average volume of 488,651. The stock has a 50-day moving average of $3.66 and a two-hundred day moving average of $5.08. Pacific Drilling SA has a one year low of $2.48 and a one year high of $15.70. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.79 and a current ratio of 6.42.
Pacific Drilling (NYSE:PACD) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.21) earnings per share for the quarter. Pacific Drilling had a negative net margin of 814.23% and a negative return on equity of 139.23%. The company had revenue of $54.32 million during the quarter.
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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