The stock of Pacific Drilling SA (NYSE:PACD) reached all time low today, Nov, 3 and still has $2.65 target or 11.00% below today’s $2.98 share price. This indicates more downside for the $61.47M company. This technical setup was reported by Barchart.com. If the $2.65 PT is reached, the company will be worth $6.76M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 7.45% or $0.24 on November 3, hitting $2.98. About 274,356 shares traded hands or 19.93% up from the average. Pacific Drilling SA (NYSE:PACD) has declined 30.00% since April 1, 2016 and is downtrending. It has underperformed by 31.21% the S&P500.
Analysts await Pacific Drilling SA (NYSE:PACD) to report earnings on November, 14. They expect $-1.42 EPS, down 174.74% or $3.32 from last year’s $1.9 per share. After $-0.05 actual EPS reported by Pacific Drilling SA for the previous quarter, Wall Street now forecasts 2,740.00% 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 firm has “Underperform” rating given on Monday, July 18 by Wells Fargo. The stock of Pacific Drilling SA (NYSE:PACD) has “Hold” rating given on Monday, March 7 by Johnson Rice. The stock has “Underweight” rating given by Barclays Capital on Wednesday, April 20. The firm has “Neutral” rating given on Tuesday, October 20 by Citigroup. The rating was downgraded by Credit Suisse to “Neutral” on Thursday, September 3. The firm has “Neutral” rating by Global Hunter Securities given on Friday, August 21. Deutsche Bank downgraded the shares of PACD in a report on Tuesday, August 9 to “Hold” rating. The firm earned “Sector Perform” rating on Monday, December 14 by Howard Weil. The stock has “Hold” rating given by Danske on Monday, August 10. Guggenheim upgraded the stock to “Buy” rating in Monday, November 30 report.
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 Plans For Two More Years Of Uncertainty” published on September 12, 2016 as well as Seekingalpha.com‘s news article titled: “Pacific Drilling Joins The Debt Restructuring Party” with publication date: August 10, 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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