Pacific Drilling SA (NYSE:PACD) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 582,200 shares, an increase of 9.1% from the June 30th total of 533,400 shares. Based on an average daily volume of 144,300 shares, the days-to-cover ratio is presently 4.0 days. Currently, 0.9% of the shares of the company are short sold.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in Pacific Drilling in the 2nd quarter valued at approximately $31,000. Tower Research Capital LLC TRC purchased a new stake in Pacific Drilling in the 2nd quarter valued at approximately $40,000. Susquehanna International Group LLP purchased a new stake in Pacific Drilling in the 2nd quarter valued at approximately $133,000. Trexquant Investment LP purchased a new stake in Pacific Drilling in the 2nd quarter valued at approximately $137,000. Finally, Wells Fargo & Company MN purchased a new stake in Pacific Drilling in the 2nd quarter valued at approximately $176,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE PACD traded up $0.78 during midday trading on Friday, reaching $4.57. 6,943 shares of the company were exchanged, compared to its average volume of 106,664. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.90 and a current ratio of 7.53. Pacific Drilling has a 1 year low of $3.66 and a 1 year high of $9,500.00. The stock has a fifty day simple moving average of $9.03 and a 200 day simple moving average of $13.07.
Pacific Drilling Company Profile
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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