Pacific Drilling S.A. (PACD) Outlook Starting To Look Brighter?


After grabbing 0.5 million shares, the institutional investor is now in possession of 0.5 million shares of the Energy Company. The new investment brought the stake of investor firm to 0.67% having worth around $0.23 million. Moreover, Squarepoint OPS LLC increased its share by 0.3 million to have a control over 0.3 million shares. And Ergoteles LLC raised its holdings to 0.14 million shares by acquiring 0.14 million shares or 0.19% of the stake.

Pacific Drilling S.A. (PACD) concluded trading on 08/26/20 at a closing price of $0.27, with 10.6 million shares of worth about $2.86 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 0.77% during that period and on Wednesday the price saw a gain of about 9.73%. Currently the company’s common shares owned by public are about 75.20M shares, out of which, 70.81M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the PACD stock and their offered price forecasts bring an average price target of $0.10. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $0.10 and could fall to a lowest price of $0.10. Analysts also issued an outlook of 3.00 for the Pacific Drilling S.A. stock for next 12 months. However, touching the estimated high of $0.10 would mean a loss of -170.0% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 32 times over the past 12 months. They bought 186,355 shares in 2 of the transactions. In 30 selling transactions, insiders dumped 57,463,311 shares.

Fidelity Mid Cap Stock Fund, Fidelity Advisor New Insights Fun, and Fidelity New Millennium Fund are the top 3 mutual funds which are holding stakes in Pacific Drilling S.A. Fidelity Mid Cap Stock Fund is currently holding 0.91 million shares of worth totaling $0.41 million. The company recently came buying 0.0 shares which brought its stake up to 1.22% of the company’s outstanding shares. Fidelity Advisor New Insights Fun sold -0.55 million shares, after which its hold over company’s outstanding shares shrunk to 1.03%, leaving 0.78 million shares with the mutual fund that have a worth of about $0.35 million. Fidelity New Millennium Fund, after buying 0.39 million shares, have now control over 0.53% of the stake in the company. It holds 0.0 shares of worth $0.18 million.

Pacific Drilling S.A. (NYSE: PACD) started trading at $0.2543, below $0.0 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $0.27, or with a gain of 9.73%. Stock saw a price change of 0.77% in past 5 days and over the past one month there was a price change of -41.68%. Year-to-date (YTD), PACD shares are showing a performance of -93.28% which decreased to -95.11% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.24 but also hit the highest price of $6.89 during that period. While comparing its average daily trading volume of 8.01 million shares, we see that about 10.6 million changed hands on the day. The stock is currently trading -24.55% below its 20-day simple moving average (SMA20), while that difference is down -38.78% for SMA50 and it goes to -80.48% lower than SMA200.

Barclays Capital, Inc. acquired 0.5 million shares of Pacific Drilling S.A. having value of about $0.23 million. Pacific Drilling S.A. (NYSE: PACD) currently have 75.20M outstanding shares and institutions hold larger chunk of about 16.60% of that. Holding of mutual funds in the company is about 4.59% while other institutional holders and individual stake holders have control over 4.82% and 39.94% of the stake respectively.

The stock has a current market capitalization of $18.38M and its 3Y-monthly beta is at 2.78. It has posted earnings per share of -$7.29 in the same period. It has Quick Ratio of 4.80 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PACD, volatility over the week remained 13.16% while standing at 10.37% over the month.

Analysts are in expectations that Pacific Drilling S.A. (PACD) stock would likely to be making an EPS of -$0.93 in the current quarter, while forecast for next quarter ESPS is -$1.02 and it is -$3.64 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.95 which is -$0.91 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.21 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 74.50% while it is estimated to increase by 11.40% in next year. EPS is likely to grow at an annualized rate of 32.10% for next 5-years, compared to annual growth of -14.90% made by the stock over the past 5-years.

Analysts at 2 brokerage firms have issued recommendations for the Pacific Drilling S.A. (PACD)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 2 Wall Street analysts, 0 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Evercore ISI on March 09, 2020 offering an Underperform rating for the stock and assigned a target price of to it.


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