Notable Mover: Is Pacific Drilling SA a Sell? The Stock Reaches All-Time Low Today

Notable Mover: Is Pacific Drilling SA a Sell? The Stock Reaches All Time Low Today

The stock of Pacific Drilling SA (NYSE:PACD) reached all time low today, Nov, 8 and still has $2.63 target or 11.00% below today’s $2.96 share price. This indicates more downside for the $64.56 million company. This technical setup was reported by Barchart.com. If the $2.63 PT is reached, the company will be worth $7.10M 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. About 57,961 shares traded hands. Pacific Drilling SA (NYSE:PACD) has declined 23.75% since April 5, 2016 and is downtrending. It has underperformed by 25.71% the S&P500.

Analysts await Pacific Drilling SA (NYSE:PACD) to report earnings on November, 14. They expect $-1.42 earnings per share, down 174.74% or $3.32 from last year’s $1.9 per share. After $-0.05 actual earnings per share 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. Johnson Rice downgraded the shares of PACD in a report on Monday, March 7 to “Hold” rating. Citigroup initiated the stock with “Neutral” rating in Tuesday, October 20 report. The stock has “Underperform” rating given by Wells Fargo on Monday, July 18. The firm has “Neutral” rating by Credit Suisse given on Thursday, September 3. The company was downgraded on Wednesday, April 20 by Barclays Capital. iBERIA Capital Partners downgraded the shares of PACD in a report on Wednesday, March 2 to “Sector Perform” rating. The firm has “Buy” rating given on Monday, November 30 by Guggenheim. The rating was downgraded by Deutsche Bank to “Hold” on Tuesday, August 9. The stock of Pacific Drilling SA (NYSE:PACD) has “Hold” rating given on Monday, August 10 by Danske. Howard Weil downgraded the stock to “Sector Perform” rating in Monday, December 14 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: The Wipeout Is Inevitable” on November 08, 2016, also Seekingalpha.com with their article: “Pacific Drilling SA (PACD) Christian J. Beckett on Q2 2016 Results – Earnings …” published on August 08, 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: Restructuring Ahead” published on September 23, 2016 as well as Seekingalpha.com‘s news article titled: “Pacific Drilling Plans For Two More Years Of Uncertainty” with publication date: September 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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