Zacks Investment Research lowered shares of Pacific Drilling S.A. (NYSE:PACD) from a hold rating to a sell rating in a research report sent to investors on Wednesday, July 12th.
According to Zacks, “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. “
Pacific Drilling (NYSE PACD) traded down 12.6237% on Wednesday, reaching $0.8036. 168,872 shares of the company’s stock were exchanged. Pacific Drilling has a 1-year low of $0.74 and a 1-year high of $6.89. The company’s market capitalization is $17.10 million. The company has a 50 day moving average price of $1.55 and a 200-day moving average price of $2.17.
Pacific Drilling (NYSE:PACD) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($6.48) EPS for the quarter, missing analysts’ consensus estimates of ($5.58) by $0.90. The company had revenue of $67.07 million for the quarter. Pacific Drilling had a negative return on equity of 10.83% and a negative net margin of 52.69%. On average, equities research analysts anticipate that Pacific Drilling will post ($20.19) earnings per share for the current year.
WARNING: This article was reported by BBNS and is owned by of BBNS. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The original version of this article can be accessed at https://baseballnewssource.com/markets/zacks-investment-research-downgrades-pacific-drilling-s-a-pacd-to-sell-updated-updated-updated/1197365.html.
An institutional investor recently raised its position in Pacific Drilling stock. California Public Employees Retirement System raised its stake in shares of Pacific Drilling S.A. (NYSE:PACD) by 90.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 115,610 shares of the oil and gas company’s stock after buying an additional 55,000 shares during the period. California Public Employees Retirement System owned about 0.54% of Pacific Drilling worth $257,000 as of its most recent filing with the SEC. 6.23% of the stock is owned by hedge funds and other institutional investors.
Pacific Drilling Company Profile
Pacific Drilling SA is an international offshore drilling contractor. The Company 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pacific Drilling S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Drilling S.A. and related companies with our FREE daily email newsletter.