Precision Drilling (NYSE:PDS) PT Raised to C$135.00 at Stifel Nicolaus

Precision Drilling (NYSE:PDS) (TSE:PD) had its price target boosted by equities research analysts at Stifel Nicolaus from C$130.00 to C$135.00 in a report released on Friday, FlyOnTheWall reports.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada boosted their target price on shares of Precision Drilling from C$100.00 to C$118.00 in a research report on Friday, July 28th. BMO Capital Markets increased their price target on shares of Precision Drilling from C$100.00 to C$110.00 in a research note on Friday, July 28th. StockNews.com initiated coverage on shares of Precision Drilling in a research report on Thursday, August 17th. They set a “strong-buy” rating for the company. Piper Sandler increased their price objective on shares of Precision Drilling from $90.00 to $107.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Finally, Raymond James raised their price target on shares of Precision Drilling from C$110.00 to C$115.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 3rd. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $120.71.

Precision Drilling Stock Up 2.3 %

Shares of NYSE PDS opened at $70.20 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.35. The company has a market cap of $954.72 million, a P/E ratio of 9.90 and a beta of 2.43. Precision Drilling has a 1 year low of $41.56 and a 1 year high of $87.36. The firm has a 50-day simple moving average of $61.59 and a two-hundred day simple moving average of $53.64.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.22. The business had revenue of $316.89 million for the quarter, compared to analyst estimates of $303.03 million. Precision Drilling had a net margin of 8.15% and a return on equity of 12.05%. Research analysts anticipate that Precision Drilling will post 9.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PDS. Quadrature Capital Ltd raised its holdings in Precision Drilling by 63.1% in the second quarter. Quadrature Capital Ltd now owns 224,600 shares of the oil and gas company’s stock valued at $10,947,000 after acquiring an additional 86,900 shares in the last quarter. Marshall Wace LLP raised its holdings in Precision Drilling by 138.2% in the second quarter. Marshall Wace LLP now owns 43,042 shares of the oil and gas company’s stock valued at $2,098,000 after acquiring an additional 24,973 shares in the last quarter. Encompass Capital Advisors LLC raised its holdings in Precision Drilling by 28.6% in the second quarter. Encompass Capital Advisors LLC now owns 742,285 shares of the oil and gas company’s stock valued at $36,259,000 after acquiring an additional 165,013 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Precision Drilling by 37.1% in the second quarter. Renaissance Technologies LLC now owns 15,895 shares of the oil and gas company’s stock valued at $776,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Cibc World Market Inc. raised its holdings in Precision Drilling by 161.4% in the second quarter. Cibc World Market Inc. now owns 82,026 shares of the oil and gas company’s stock valued at $4,008,000 after acquiring an additional 50,649 shares in the last quarter. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

Precision Drilling Company Profile

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.