Pacific Drilling SA (NYSE:PACD) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 823,500 shares, a growth of 41.4% from the July 31st total of 582,200 shares. Based on an average daily trading volume, of 169,400 shares, the days-to-cover ratio is currently 4.9 days. Currently, 1.2% of the shares of the company are sold short.
Shares of NYSE:PACD remained flat at $$6.25 during midday trading on Wednesday. 138,896 shares of the company were exchanged, compared to its average volume of 83,552. The stock has a 50-day simple moving average of $6.28 and a 200 day simple moving average of $11.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 7.94 and a current ratio of 8.74. Pacific Drilling has a 52 week low of $3.66 and a 52 week high of $9,500.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP bought a new stake in Pacific Drilling in the second quarter worth about $133,000. Highbridge Capital Management LLC grew its position in shares of Pacific Drilling by 2.0% during the 2nd quarter. Highbridge Capital Management LLC now owns 2,142,124 shares of the company’s stock valued at $26,991,000 after acquiring an additional 42,618 shares during the period. Vanguard Group Inc. purchased a new stake in shares of Pacific Drilling during the 2nd quarter worth approximately $884,000. Tower Research Capital LLC TRC purchased a new stake in shares of Pacific Drilling during the 2nd quarter worth approximately $40,000. Finally, BlackRock Inc. bought a new stake in shares of Pacific Drilling in the 2nd quarter worth approximately $17,791,000. Institutional investors and hedge funds own 86.16% of the company’s stock.
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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