Precision Drilling (NYSE:PDS) Price Target Raised to C$142.00

Precision Drilling (NYSE:PDS – Get Rating) (TSE:PD) had its target price upped by Stifel Nicolaus from C$135.00 to C$142.00 in a research note issued to investors on Friday morning, The Fly reports.

Other research analysts also recently issued reports about the company. Piper Sandler increased their price objective on Precision Drilling from $85.00 to $115.00 and gave the stock an overweight rating in a report on Wednesday, April 13th. StockNews.com initiated coverage on Precision Drilling in a research report on Thursday, March 31st. They set a hold rating for the company. TD Securities increased their price target on Precision Drilling from C$125.00 to C$130.00 in a research report on Friday. BMO Capital Markets increased their price target on Precision Drilling from C$65.00 to C$75.00 in a research report on Friday, February 11th. Finally, Zacks Investment Research raised Precision Drilling from a sell rating to a hold rating in a research report on Wednesday, January 12th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $98.17.

Shares of Precision Drilling stock opened at $71.79 on Friday. Precision Drilling has a 1 year low of $24.68 and a 1 year high of $85.29. The business has a 50-day moving average of $68.32 and a two-hundred day moving average of $50.43. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.24 and a current ratio of 1.34.

Precision Drilling (NYSE:PDS – Get Rating) (TSE:PD) last posted its quarterly earnings data on Thursday, February 10th. The oil and gas company reported ($1.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.28) by ($0.35). The firm had revenue of $295.20 million for the quarter, compared to the consensus estimate of $285.08 million. Precision Drilling had a negative return on equity of 13.90% and a negative net margin of 18.08%. The firm’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.10) earnings per share. On average, sell-side analysts predict that Precision Drilling will post -2.57 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of PDS. Marshall Wace LLP bought a new position in Precision Drilling during the 1st quarter worth $36,000. Morgan Stanley increased its stake in Precision Drilling by 60.2% during the 2nd quarter. Morgan Stanley now owns 132,802 shares of the oil and gas company’s stock worth $5,538,000 after acquiring an additional 49,910 shares during the period. Toronto Dominion Bank increased its stake in shares of Precision Drilling by 11.9% in the 3rd quarter. Toronto Dominion Bank now owns 10,074 shares of the oil and gas company’s stock valued at $408,000 after purchasing an additional 1,071 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Precision Drilling by 17.9% in the 3rd quarter. TD Asset Management Inc. now owns 94,888 shares of the oil and gas company’s stock valued at $3,835,000 after purchasing an additional 14,390 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Precision Drilling by 73.6% in the 3rd quarter. BlackRock Inc. now owns 6,443 shares of the oil and gas company’s stock valued at $260,000 after purchasing an additional 2,732 shares during the last quarter. Hedge funds and other institutional investors own 43.10% of the company’s stock.

Precision Drilling Company Profile (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.

Read More