Notable Runner: A Reversal for Pacific Drilling SA Is Not Near. The Stock Rises Again

Notable Runner: A Reversal for Pacific Drilling SA Is Not Near. The Stock Rises Again

The stock of Pacific Drilling SA (NYSE:PACD) is a huge mover today! About 235,757 shares traded hands or 6.17% up from the average. Pacific Drilling SA (NYSE:PACD) has declined 50.56% since April 27, 2016 and is downtrending. It has underperformed by 55.79% the S&P500.
The move comes after 5 months positive chart setup for the $83.85M company. It was reported on Nov, 30 by Barchart.com. We have $4.09 PT which if reached, will make NYSE:PACD worth $3.35M more.

Analysts await Pacific Drilling SA (NYSE:PACD) to report earnings on March, 6. They expect $-2.30 earnings per share, down 243.75% or $3.90 from last year’s $1.6 per share. After $0.01 actual earnings per share reported by Pacific Drilling SA for the previous quarter, Wall Street now forecasts -23,100.00% 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 stock has “Neutral” rating given by Credit Suisse on Thursday, September 3. Barclays Capital downgraded Pacific Drilling SA (NYSE:PACD) on Wednesday, April 20 to “Underweight” rating. The firm has “Neutral” rating by Global Hunter Securities given on Friday, August 21. The rating was downgraded by Johnson Rice to “Hold” on Monday, March 7. As per Tuesday, August 9, the company rating was downgraded by Deutsche Bank. The firm earned “Underperform” rating on Monday, July 18 by Wells Fargo. Danske upgraded the stock to “Hold” rating in Monday, August 10 report. The stock has “Buy” rating given by Guggenheim on Monday, November 30. The rating was downgraded by iBERIA Capital Partners on Wednesday, March 2 to “Sector Perform”. The stock of Pacific Drilling SA (NYSE:PACD) has “Neutral” rating given on Tuesday, October 20 by Citigroup.

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: The Wipeout Is Inevitable” published on November 08, 2016, Seekingalpha.com published: “Pacific Drilling Joins The Debt Restructuring Party” on August 10, 2016. More interesting news about Pacific Drilling SA (NYSE:PACD) were released by: Moodys.com and their article: “Moody’s downgrades Pacific Drilling to Caa3; negative outlook” published on October 11, 2016 as well as Seekingalpha.com‘s news article titled: “Pacific Drilling: Hope Is Gone” with publication date: October 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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