Pacific Drilling SA (NYSE:PACD) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,290,000 shares, an increase of 31.5% from the September 30th total of 980,800 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 160,000 shares, the short-interest ratio is presently 8.1 days.

NYSE PACD traded down $0.01 during trading on Thursday, reaching $3.00. 1,522 shares of the company’s stock were exchanged, compared to its average volume of 187,640. The company has a quick ratio of 5.79, a current ratio of 6.42 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average price of $3.23 and a two-hundred day moving average price of $8.43. Pacific Drilling has a 1 year low of $2.48 and a 1 year high of $2,000.00.

Pacific Drilling (NYSE:PACD) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.21) earnings per share (EPS) for the quarter. The business had revenue of $54.32 million for the quarter. Pacific Drilling had a negative return on equity of 139.23% and a negative net margin of 814.23%.

A number of research analysts recently issued reports on PACD shares. Fearnley Fonds upgraded Pacific Drilling from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Thursday, November 7th. Nordea Equity Research upgraded Pacific Drilling from a “sell” rating to a “buy” rating in a report on Thursday, October 24th. Finally, ValuEngine upgraded Pacific Drilling from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can purchased a new stake in Pacific Drilling during the 2nd quarter worth about $31,000. Tower Research Capital LLC TRC acquired a new stake in shares of Pacific Drilling during the second quarter worth about $40,000. Susquehanna International Group LLP acquired a new stake in shares of Pacific Drilling during the second quarter worth about $133,000. Trexquant Investment LP acquired a new stake in shares of Pacific Drilling during the second quarter worth about $137,000. Finally, Wells Fargo & Company MN acquired a new stake in shares of Pacific Drilling during the second quarter worth about $176,000. 86.19% of the stock is owned by institutional investors.

About Pacific Drilling

Pacific Drilling SA, together with its subsidiaries, operates as an offshore drilling contractor. It provides offshore drilling services to the oil and natural gas industry. The company contracts its fleet of rigs to drill wells for its customers. It has a fleet of seven drillships. The company was founded in 2006 and is headquartered in Houston, Texas.

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