Precision Drilling Co. (NYSE:PDS) Given Average Rating of “Buy” by Brokerages

Shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) have earned a consensus recommendation of “Buy” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $44.00.

Several research analysts have recently commented on PDS shares. Piper Sandler lowered their price objective on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th. StockNews.com cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

Institutional Trading of Precision Drilling

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Precision Drilling by 41.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,725 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 1,084 shares in the last quarter. TD Asset Management Inc raised its holdings in Precision Drilling by 117.2% during the third quarter. TD Asset Management Inc now owns 104,956 shares of the oil and gas company’s stock worth $7,065,000 after purchasing an additional 56,623 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Precision Drilling by 2.7% during the third quarter. CIBC Asset Management Inc now owns 12,165 shares of the oil and gas company’s stock worth $818,000 after purchasing an additional 324 shares in the last quarter. Signaturefd LLC raised its holdings in Precision Drilling by 41.3% during the third quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 269 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Precision Drilling during the third quarter worth approximately $243,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Trading Up 1.7 %

NYSE PDS opened at $71.12 on Friday. The firm has a 50 day simple moving average of $67.00 and a 200-day simple moving average of $60.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.59 and a current ratio of 1.71. Precision Drilling has a one year low of $41.56 and a one year high of $77.21. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 6.25 and a beta of 2.08.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.12). Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. The business had revenue of $391.51 million during the quarter, compared to analysts’ expectations of $399.44 million. Equities research analysts anticipate that Precision Drilling will post 6.49 EPS for the current fiscal year.

About Precision Drilling

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.