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

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $99.00.

Several equities research analysts have recently commented on the company. Atb Cap Markets upgraded Precision Drilling to a “strong-buy” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Precision Drilling in a report on Friday, October 31st. Piper Sandler reissued an “overweight” rating and issued a $81.00 target price (up previously from $79.00) on shares of Precision Drilling in a report on Thursday, December 18th. Wall Street Zen cut Precision Drilling from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Finally, TD Securities reaffirmed a “hold” rating on shares of Precision Drilling in a research note on Thursday, October 23rd.

Precision Drilling Price Performance

Precision Drilling stock opened at $74.42 on Friday. Precision Drilling has a 12 month low of $36.20 and a 12 month high of $76.59. The stock has a market capitalization of $962.20 million, a PE ratio of 27.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.58 and a quick ratio of 1.42. The business has a 50 day simple moving average of $66.30 and a 200-day simple moving average of $59.10.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Wednesday, October 22nd. The oil and gas company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.57). Precision Drilling had a net margin of 3.17% and a return on equity of 3.44%. The business had revenue of $331.90 million during the quarter, compared to analyst estimates of $471.38 million. Equities analysts predict that Precision Drilling will post 7.1 earnings per share for the current year.

Institutional Trading of Precision Drilling

Several large investors have recently modified their holdings of PDS. US Bancorp DE increased its stake in shares of Precision Drilling by 52.3% during the 3rd quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 408 shares in the last quarter. Creative Planning increased its position in Precision Drilling by 6.2% during the third quarter. Creative Planning now owns 8,503 shares of the oil and gas company’s stock worth $479,000 after buying an additional 496 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Precision Drilling by 4.7% in the third quarter. Mackenzie Financial Corp now owns 14,930 shares of the oil and gas company’s stock worth $841,000 after acquiring an additional 672 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Precision Drilling by 52.4% in the second quarter. Signaturefd LLC now owns 2,230 shares of the oil and gas company’s stock worth $105,000 after acquiring an additional 767 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Precision Drilling in the third quarter valued at $54,000. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Precision Drilling Company Profile

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.