State Street Corp grew its position in shares of Pacific Drilling SA (NYSE:PACD) by 13.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 428,123 shares of the company’s stock after acquiring an additional 50,108 shares during the period. State Street Corp owned about 0.57% of Pacific Drilling worth $1,674,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Pacific Drilling in the second quarter worth $31,000. Tower Research Capital LLC TRC purchased a new stake in Pacific Drilling during the second quarter valued at approximately $40,000. Susquehanna International Group LLP bought a new position in Pacific Drilling in the second quarter worth approximately $133,000. Trexquant Investment LP purchased a new stake in shares of Pacific Drilling in the 2nd quarter worth $137,000. Finally, Wells Fargo & Company MN bought a new position in Pacific Drilling in the 2nd quarter worth $176,000. 87.96% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on PACD. Fearnley Fonds upgraded Pacific Drilling from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Thursday, November 7th. Evercore ISI reissued a “buy” rating on shares of Pacific Drilling in a report on Thursday, November 21st. Nordea Equity Research upgraded Pacific Drilling from a “sell” rating to a “buy” rating in a research report on Thursday, October 24th. Finally, ValuEngine upgraded shares of Pacific Drilling from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd.
PACD traded down $0.24 during trading hours on Friday, hitting $1.89. The company’s stock had a trading volume of 639,161 shares, compared to its average volume of 620,619. Pacific Drilling SA has a 12 month low of $1.85 and a 12 month high of $15.70. The company has a current ratio of 6.42, a quick ratio of 5.79 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average price is $3.59 and its 200-day moving average price is $4.75.
Pacific Drilling (NYSE:PACD) last released its earnings results on Tuesday, November 5th. The company reported ($1.21) EPS for the quarter. The business had revenue of $54.32 million for the quarter. Pacific Drilling had a negative net margin of 814.23% and a negative return on equity of 139.23%.
About Pacific Drilling
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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