Pacific Drilling SA (NYSE:PACD) Sees Significant Growth in Short Interest

Pacific Drilling SA (NYSE:PACD) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 243,200 shares, a growth of 44.8% from the May 30th total of 167,900 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 116,100 shares, the days-to-cover ratio is presently 2.1 days.

PACD stock traded down $0.18 during trading on Friday, hitting $11.30. 1,617 shares of the company’s stock traded hands, compared to its average volume of 279,347. Pacific Drilling has a 52 week low of $9.85 and a 52 week high of $9,500.00. The company has a quick ratio of 6.90, a current ratio of 7.53 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $12.88.

Pacific Drilling (NYSE:PACD) last released its quarterly earnings data on Monday, May 13th. The company reported ($1.12) EPS for the quarter. Pacific Drilling had a negative net margin of 872.58% and a negative return on equity of 125.49%. The business had revenue of $65.92 million for the quarter.

Hedge funds have recently added to or reduced their stakes in the business. Prudential PLC bought a new position in Pacific Drilling during the fourth quarter valued at $247,000. Barclays PLC bought a new position in Pacific Drilling during the fourth quarter valued at $770,000. Bank of America Corp DE bought a new position in Pacific Drilling during the fourth quarter valued at $1,646,000. NYL Investors LLC bought a new position in Pacific Drilling during the first quarter valued at $2,111,000. Finally, Thrivent Financial for Lutherans bought a new position in Pacific Drilling during the fourth quarter valued at $9,103,000. Institutional investors and hedge funds own 83.20% of the company’s stock.

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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