Precision Drilling (NYSE:PDS) Stock Rating Lowered by StockNews.com

Precision Drilling (NYSE:PDS) (TSE:PD) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Separately, Piper Sandler lowered their price objective on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.17.

Precision Drilling Stock Performance

Shares of PDS opened at $72.30 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.05 billion, a PE ratio of 6.35 and a beta of 2.11. The company’s 50 day simple moving average is $66.23 and its 200-day simple moving average is $60.63. Precision Drilling has a 12-month low of $41.56 and a 12-month high of $77.21.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). Precision Drilling had a net margin of 12.00% and a return on equity of 10.44%. The firm had revenue of $391.51 million during the quarter, compared to analysts’ expectations of $399.44 million. As a group, equities analysts predict that Precision Drilling will post 6.41 EPS for the current year.

Institutional Investors Weigh In On Precision Drilling

A number of hedge funds and other institutional investors have recently bought and sold shares of PDS. Signaturefd LLC lifted its holdings in Precision Drilling by 41.3% in the third quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 269 shares during the period. Russell Investments Group Ltd. acquired a new stake in Precision Drilling in the fourth quarter valued at $88,000. Barometer Capital Management Inc. acquired a new stake in Precision Drilling in the third quarter valued at $148,000. Alberta Investment Management Corp acquired a new stake in Precision Drilling in the fourth quarter valued at $229,000. Finally, Quantbot Technologies LP acquired a new stake in Precision Drilling in the third quarter valued at $243,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

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 through Contract Drilling Services and Completion and Production Services segments.