Pacific Drilling S.A. (NYSE:PACD) Sees Light Trading Volume with 82K Shares Changing Hands


82K shares changed hands by the end of trading on Thursday. Shares saw a steep decrease in trading volume of 85.20% under the normal average daily volume.

Here are a few additional firms who have increased or decreased their stake in (PACD). As of quarter end Norges Bank had sold 98,900 shares trimming its holdings by 21.7%. The value of the investment in (PACD) went from $569,000 to $174,000 a change of $395,000 for the reporting period. As of the end of the quarter Citadel Advisors LLC had acquired a total of 569,192 shares growing its stake by 352.5%. The value of the company’s investment in Pacific Drilling S.A. increased from $136,000 to $358,000 increasing 163.2% quarter over quarter.

Royal Bank Of Canada added to its holdings by buying 5,200 shares an increase of 60.6% as of 03/31/2016. Royal Bank Of Canada currently owns 13,784 shares worth $7,000. The value of the position overall is down by 0.0%. Invesco Ltd. expanded its ownership by buying 129,188 shares an increase of 55.6%. Invesco Ltd. now controls 361,664 shares valued at $177,000. The total value of its holdings decreased 9.2%.

On July 18 the company was downgraded to “Underperform” from “” in an announcement from Wells Fargo. April 20 investment analysts at Barclays kept the price target at $0.50 but cut the company from Equalweight to Underweight.

On April 20 the stock rating was downgraded from “Equalweight” to “Underweight” and a price target of $0.50 was set by analysts at Barclays. On March 7 the stock rating was downgraded from “Buy” to “Hold” in a statement from Johnson Rice.

On March 4, 2016 the stock rating was rated “Sell” according to a Citigroup report a cut from the previous “Neutral” rating. On March 2 the stock rating was downgraded to “Sector Perform” from “Outperform” with a current price target of $0.00 by iBERIA Capital Partners.

The company is up since yesterday’s close of $0.8036. Company chares are trading at $0.857 which is marginally under $1.55, the 50 day moving average and which is just a bit below the 200 day moving average of $2.17. The 50 day moving average was down by -44.6983% and the 200 day average went down $-1.32 or -60.5609%.

As of the last earnings report the EPS was $-6.34 and is estimated to be $-20.19 for the current year with 21,284,000 shares now outstanding. Next quarter’s EPS is forecasted to be $-5.07 and the next full year EPS is anticipated to be $-17.13.

Pacific Drilling S.A., launched on March 22, 2011, 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. Its 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 Company is involved in drillships segment. The Company is primarily focused on the high-specification segment of the floating rig market. The Company 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..