Fearnley Fonds Upgrades Pacific Drilling (NYSE:PACD) to “Buy”

Fearnley Fonds upgraded shares of Pacific Drilling (NYSE:PACD) from a hold rating to a buy rating in a report issued on Thursday, The Fly reports. They currently have $7.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. ValuEngine upgraded shares of Pacific Drilling from a hold rating to a buy rating in a research report on Wednesday, October 2nd. Nordea Equity Research upgraded shares of Pacific Drilling from a sell rating to a buy rating in a research report on Thursday, October 24th.

Shares of NYSE PACD traded up $0.73 during midday trading on Thursday, reaching $3.50. The company’s stock had a trading volume of 441,972 shares, compared to its average volume of 96,638. The company has a quick ratio of 7.94, a current ratio of 8.74 and a debt-to-equity ratio of 0.72. Pacific Drilling has a fifty-two week low of $2.48 and a fifty-two week high of $3,500.00. The business’s 50 day moving average price is $3.32 and its two-hundred day moving average price is $8.66.

Pacific Drilling (NYSE:PACD) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($1.21) earnings per share for the quarter. Pacific Drilling had a negative net margin of 827.68% and a negative return on equity of 133.18%. The business had revenue of $54.32 million during the quarter.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PACD. Bank of Montreal Can acquired a new stake in shares of Pacific Drilling in the second quarter valued at approximately $31,000. Tower Research Capital LLC TRC acquired a new stake in shares of Pacific Drilling in the second quarter valued at approximately $40,000. SG Americas Securities LLC acquired a new stake in shares of Pacific Drilling in the third quarter valued at approximately $77,000. Susquehanna International Group LLP bought a new position in Pacific Drilling in the second quarter valued at approximately $133,000. Finally, Trexquant Investment LP bought a new position in Pacific Drilling in the second quarter valued at approximately $137,000. Institutional investors own 86.17% 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.

Read More: What is the Quick Ratio?

The Fly

Receive News & Ratings for Pacific Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Drilling and related companies with MarketBeat.com's FREE daily email newsletter.