Pacific Drilling S.A. (PACD) Testing Investors’ Patience Right Now


    Barclays Capital, Inc. recently announced the acquisition of new stake in Pacific Drilling S.A. (NYSE:PACD). This fresh investment now brings its stake to 0.67% valued currently at $0.23 million. In addition, Squarepoint OPS LLC raised its holdings by 0.3 million to 0.3 million shares.

    With over 7.59 million Pacific Drilling S.A. (PACD) shares trading Friday and a closing price of $0.27 on the day, the dollar volume was approximately $2.05 million. The shares have shown a negative weekly performance of -18.21% and its price on 08/21/20 gained nearly 12.22%. Currently, there are 75.20M common shares owned by the public and among those 70.81M shares have been available to trade.

    The analysts have set the share’s price value over the next 12 months at a high of $0.10 and a low of $0.10 should the stock experience a downside. Incidentally, analysts’ outlook for the Pacific Drilling S.A. stock is 3.00 for the next 12 months. But an upside of -170.0% will see the stock hit the forecast high price target while mean target price for the stock is $0.10.

    Insiders at the company have transacted a total of 32 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 186,355 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 57,463,311 shares.

    The top 3 mutual fund holders in Pacific Drilling S.A. are Fidelity Mid Cap Stock Fund, Fidelity Advisor New Insights Fun, and Fidelity New Millennium Fund. Fidelity Mid Cap Stock Fund owns 0.91 million shares of the company’s stock, all valued at over $0.41 million. Fidelity Advisor New Insights Fun sold -0.55 million shares to see its total holdings shrink to 0.78 million shares valued at over $0.35 million and representing 1.03% of the shares outstanding. Fidelity New Millennium Fund now owns shares totaling to 0.53% of the shares outstanding.

    Shares of Pacific Drilling S.A. (NYSE: PACD) opened at $0.2598, up $0.02 from a prior closing price of $0.24. However, the script later closed the day at $0.27, up 12.22%. The company’s stock has a 5-day price change of -18.21% and -40.68% over the past three months. PACD shares are trading -93.38% year to date (YTD), with the 12-month market performance down to -95.39% lower. It has a 12-month low price of $0.24 and touched a high of $6.89 over the same period. Currently, 7.59 million shares have been traded, compared to an average intraday trading volume of 7.94 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -31.84%, -41.78%, and -81.28% respectively.

    Institutional ownership of Pacific Drilling S.A. (NYSE: PACD) shares accounts for 16.60% of the company’s 75.20M shares outstanding. Mutual fund holders own 4.59%, while other institutional holders and individual stakeholders account for 4.82% and 39.94% respectively.

    It has a market capitalization of $18.09M and a beta (3y monthly) value of 2.78. The earnings-per-share (ttm) stands at -$7.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.50% over the week and 9.35% over the month.

    Analysts forecast that Pacific Drilling S.A. (PACD) will achieve an EPS of -$0.97 for the current quarter, -$1.08 for the next quarter and -$3.59 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.04 while analysts give the company a high EPS estimate of -$0.93. Comparatively, EPS for the current quarter was -$1.21 a year ago. Earnings per share for the fiscal year are expected to increase by 74.50%, and 11.40% over the next financial year. EPS should grow at an annualized rate of 32.10% over the next five years, compared to -14.90% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Pacific Drilling S.A. (PACD) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 2 rated it as a “Sell.”

    Looking at the support for the PACD, a number of firms have released research notes about the stock. Evercore ISI stated their Underperform rating for the stock in a research note on March 09, 2020, with the firm’s price target at.


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