uploads///Analyst recco

Have Analysts Changed Their Recommendations for PACD after 3Q16?

By

Nov. 20 2020, Updated 5:22 p.m. ET

No upgrade downgrades

After Pacific Drilling (PACD) released its 3Q16 earnings, no Wall Street analysts either upgraded or downgraded its stock, unlike Diamond Offshore (DO) and Rowan Companies (RDC)

Diamond Offshore was upgraded by Capital One and Swedbank following its 3Q16 results. Rowan Companies was upgraded by Société Générale after its 3Q16 earnings.

Article continues below advertisement

Analysts’ recommendations

Of the 15 analysts covering Pacific Drilling, 7% have given it “buy” recommendations, 40% have given it “holds,” and 53% have given it “sells.” 

The average target price for Pacific Drilling is $3, compared to its current price of $3.13 as of November 10, 2016. This implies a potential downside of 4%.

Peers’ recommendations

Below are analysts’ recommendations for other offshore drilling companies (OIH):

  • Transocean (RIG): 11% of analysts recommend a “buy,” 43% a “hold,” and 46% a “sell.”
  • Seadrill (SDRL): 0% of analysts recommend a “buy,” 22% a “hold,” and 78% a “sell.”
  • Atwood Oceanics (ATW): 10% of analysts recommend a “buy,” 55% a “hold,” and 35% a “sell.”
  • Ocean Rig (ORIG): 0% of analysts recommend a “buy,” 12% a “hold,” and 88% a “sell.”
  • Noble (NE): ~15% gave the company a “buy,” 54% gave it a “hold,” and 31% gave it a “sell.”
  • Rowan Companies (RDC), 22% gave it a “buy,” 62% gave it a “hold,” and 16% gave it a “sell.”
Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.