The stock of Pacific Drilling SA (NYSE:PACD) is a huge mover today! The stock decreased 4.43% or $0.18 on October 3, hitting $3.88. About 194,279 shares traded hands. Pacific Drilling SA (NYSE:PACD) has declined 22.40% since March 1, 2016 and is downtrending. It has underperformed by 34.62% the S&P500.
The move comes after 7 months negative chart setup for the $89.03M company. It was reported on Oct, 4 by Barchart.com. We have $3.41 PT which if reached, will make NYSE:PACD worth $10.68M less.
Analysts await Pacific Drilling SA (NYSE:PACD) to report earnings on November, 14. They expect $-1.42 earnings per share, down 174.74% or $3.32 from last year’s $1.9 per share. After $-0.05 actual earnings per share reported by Pacific Drilling SA for the previous quarter, Wall Street now forecasts 2,740.00% negative EPS growth.
Pacific Drilling SA (NYSE:PACD) Ratings Coverage
Out of 13 analysts covering Pacific Drilling (NYSE:PACD), 2 rate it a “Buy”, 2 “Sell”, while 9 “Hold”. This means 15% are positive. Pacific Drilling has been the topic of 16 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Monday, November 30 by Guggenheim. The firm has “Underweight” rating given on Wednesday, April 20 by Barclays Capital. On Tuesday, August 9 the stock rating was downgraded by Deutsche Bank to “Hold”. The stock of Pacific Drilling SA (NYSE:PACD) earned “Neutral” rating by Credit Suisse on Thursday, September 3. As per Monday, July 18, the company rating was downgraded by Wells Fargo. The company was upgraded on Monday, August 10 by Danske. The stock of Pacific Drilling SA (NYSE:PACD) earned “Hold” rating by Johnson Rice on Monday, March 7. The firm earned “Neutral” rating on Friday, August 21 by Global Hunter Securities. On Tuesday, October 20 the stock rating was initiated by Citigroup with “Neutral”. iBERIA Capital Partners downgraded the stock to “Sector Perform” rating in Wednesday, March 2 report.
According to Zacks Investment Research, “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.”
More notable recent Pacific Drilling SA (NYSE:PACD) news were published by: Seekingalpha.com which released: “Pacific Drilling: Restructuring Ahead” on September 23, 2016, also Seekingalpha.com with their article: “Pacific Drilling Joins The Debt Restructuring Party” published on August 10, 2016, Seekingalpha.com published: “Pacific Drilling Might Not Survive” on March 08, 2016. More interesting news about Pacific Drilling SA (NYSE:PACD) were released by: Seekingalpha.com and their article: “Pacific Drilling SA (PACD) Christian J. Beckett on Q2 2016 Results – Earnings …” published on August 08, 2016 as well as Seekingalpha.com‘s news article titled: “Pacific Drilling: Is There Any Hope Left?” with publication date: May 09, 2016.
PACD Company Profile
Pacific Drilling S.A., incorporated on March 22, 2011, is an international offshore drilling contractor. The Firm 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. The Firm is engaged in drillships segment. The Firm is primarily focused on the high-specification segment of the floating rig market. The Firm generally considers high-specification requirements to include rigs in water depths of approximately 7,500 feet or projects requiring advanced operating capabilities, such as hook-loads (>800 tons), accommodations (over 200 beds), mud storage and pumping capacity, and deck-load and space capabilities.
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