The stock of Pacific Drilling SA (NYSE:PACD) is a huge mover today! About 137,919 shares traded hands. Pacific Drilling SA (NYSE:PACD) has declined 23.70% since April 14, 2016 and is downtrending. It has underperformed by 28.38% the S&P500.
The move comes after 9 months positive chart setup for the $90.53M company. It was reported on Nov, 16 by Barchart.com. We have $6.66 PT which if reached, will make NYSE:PACD worth $74.23M more.
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 stock of Pacific Drilling SA (NYSE:PACD) has “Sector Perform” rating given on Wednesday, March 2 by iBERIA Capital Partners. The stock has “Hold” rating given by Johnson Rice on Monday, March 7. Howard Weil downgraded Pacific Drilling SA (NYSE:PACD) on Monday, December 14 to “Sector Perform” rating. Global Hunter Securities downgraded it to “Neutral” rating and $2 target price in Friday, August 21 report. The firm has “Underweight” rating by Barclays Capital given on Wednesday, April 20. The firm has “Hold” rating given on Tuesday, August 9 by Deutsche Bank. The company was upgraded on Monday, November 30 by Guggenheim. On Monday, July 18 the stock rating was downgraded by Wells Fargo to “Underperform”. The rating was downgraded by Credit Suisse on Thursday, September 3 to “Neutral”. The rating was initiated by Citigroup with “Neutral” on Tuesday, October 20.
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 SA (PACD) Christian J. Beckett on Q2 2016 Results – Earnings …” on August 08, 2016, also Seekingalpha.com with their article: “Pacific Drilling: Restructuring Ahead” published on September 23, 2016, Seekingalpha.com published: “Pacific Drilling: Hope Is Gone” on October 12, 2016. More interesting news about Pacific Drilling SA (NYSE:PACD) were released by: Seekingalpha.com and their article: “Pacific Drilling Might Not Survive” published on March 08, 2016 as well as Seekingalpha.com‘s news article titled: “Pacific Drilling Plans For Two More Years Of Uncertainty” with publication date: September 12, 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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