Pacific Drilling S.A. (PACD) : During the past 4 weeks, traders have been relatively bearish on Pacific Drilling S.A. (PACD), hence the stock is down -30.76% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -3.04% relative to the S&P 500. The 4-week change in the price of the stock is -30.05% and the stock has fallen -2.99% in the past 1 week.
The stock has recorded a 20-day Moving Average of 14.03% and the 50-Day Moving Average is 29.57%. Pacific Drilling S.A. (NYSE:PACD): On Fridays trading session , Opening price of the stock was $5.11 with an intraday high of $5.1699. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $4.5. However, the stock managed to close at $4.54, a loss of 11.33% for the day. On the previous day, the stock had closed at $5.12. The total traded volume of the day was 613,648 shares.
Also, Brokerage firm Deutsche Bank downgrades its rating on Pacific Drilling S.A. (NYSE:PACD). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on August 9, 2016.
Pacific Drilling S.A. is an international offshore drilling Company. The Company is a provider of ultra-deep water drilling services to the oil and natural gas industry through the use of high-specification drilling rigs. The Companys primary business is to contract its ultra-deep water drilling rigs, related equipment and work crews, primarily on a dayrate basis, to drill wells for its customers. The Company is primarily focused on the ultra-deep water market. The Company considers ultra-deep water to begin at water depths of more than 7,500 feet and to extend to the maximum water depths, in which rigs are capable of drilling, which is approximately 12,000 feet.