Pacific Drilling SA (PACD) was Downgraded to a Hold Rating at Fearnley Securities

By Ryan Adsit

Pacific Drilling SA (PACDResearch Report) received a Hold rating from Fearnley Securities analyst Truls Olsen today. The company’s shares closed last Monday at $1.78, close to its 52-week low of $1.63.

According to TipRanks.com, Olsen is ranked #4976 out of 5858 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pacific Drilling SA with a $11.00 average price target.

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Based on Pacific Drilling SA’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $90.78 million. In comparison, last year the company had a GAAP net loss of $1.84 billion.

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Pacific Drilling SA provides global ultra-deepwater drilling services to the oil and natural gas industry. The firm offers high-specification drillships such as Pacific Bora, Pacific Mistral, Pacific Scirocco, Pacific Santa Ana and Pacific Meltem. The company was founded on March 11, 2011 and is headquartered in Luxembourg.