Precision Drilling Co. (NYSE:PDS) Receives Consensus Recommendation of “Buy” from Analysts

Precision Drilling Co. (NYSE:PDS – Get Rating) (TSE:PD) has received an average rating of “Buy” from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $90.67.

A number of research analysts have recently commented on the company. BMO Capital Markets upped their target price on Precision Drilling from C$65.00 to C$75.00 in a research note on Friday, February 11th. Piper Sandler boosted their price objective on shares of Precision Drilling from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, April 13th. StockNews.com initiated coverage on shares of Precision Drilling in a research report on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet upgraded Precision Drilling from a “d” rating to a “c-” rating in a report on Wednesday, February 16th. Finally, Royal Bank of Canada raised their price objective on Precision Drilling from C$71.00 to C$81.00 in a report on Friday, February 11th.

Shares of NYSE PDS opened at $82.37 on Monday. The stock’s 50 day moving average is $64.29. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. Precision Drilling has a 1-year low of $24.50 and a 1-year high of $84.00. The company has a market capitalization of $1.12 billion, a PE ratio of -7.71 and a beta of 2.67.

Precision Drilling (NYSE:PDS – Get Rating) (TSE:PD) last released its earnings results on Thursday, February 10th. The oil and gas company reported ($1.63) EPS for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.35). The business had revenue of $295.20 million for the quarter, compared to the consensus estimate of $285.08 million. Precision Drilling had a negative net margin of 18.08% and a negative return on equity of 13.90%. The company’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.10) EPS. As a group, equities analysts predict that Precision Drilling will post -2.54 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. US Bancorp DE lifted its position in shares of Precision Drilling by 88.7% during the third quarter. US Bancorp DE now owns 619 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 291 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Precision Drilling during the first quarter valued at about $36,000. Verdad Advisers LP purchased a new stake in shares of Precision Drilling during the fourth quarter valued at about $37,000. Ahrens Investment Partners LLC purchased a new stake in shares of Precision Drilling during the fourth quarter valued at about $39,000. Finally, Alpha Paradigm Partners LLC purchased a new stake in shares of Precision Drilling during the fourth quarter valued at about $193,000. Institutional investors own 43.10% of the company’s stock.

About Precision Drilling (Get Rating)

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates in two segments, Contract Drilling Services; and Completion and Production Services.

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