Pacific Drilling S.A. (PACD) was recommended as a WATCH in Investment Digest issue 714, dated February 14, 2012 at $10.82 by Cabot Global Energy Investor. PACD closed Thursday (the last day the market was open) at $10.16.
“The stock has been unable to break out of a tight trading range around 10. Although the long-term outlook for ‘ultra-deepwater’ drillers is positive, I don’t see the momentum for PACD to move above 11. For now, I’ll drop PACD from my watch list and focus elsewhere. DROP.”
- Lou Gagliardi, Cabot Global Energy Investor, April 5, 2012