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

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $122.3333.

PDS has been the topic of a number of recent research reports. Loop Capital set a $122.00 target price on shares of Precision Drilling in a report on Monday, March 2nd. Wall Street Zen downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Zacks Research upgraded shares of Precision Drilling from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. TD Securities reaffirmed a “hold” rating on shares of Precision Drilling in a report on Thursday, February 12th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Precision Drilling in a research note on Thursday, February 12th.

Institutional Trading of Precision Drilling

A number of hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its stake in shares of Precision Drilling by 275.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 387,598 shares of the oil and gas company’s stock worth $18,338,000 after purchasing an additional 284,384 shares during the last quarter. Aegis Financial Corp grew its position in Precision Drilling by 110.0% in the 3rd quarter. Aegis Financial Corp now owns 452,359 shares of the oil and gas company’s stock valued at $25,486,000 after buying an additional 236,963 shares during the last quarter. Picton Mahoney Asset Management grew its position in Precision Drilling by 100.0% in the 3rd quarter. Picton Mahoney Asset Management now owns 245,981 shares of the oil and gas company’s stock valued at $13,851,000 after buying an additional 122,974 shares during the last quarter. Beirne Wealth Consulting Services LLC acquired a new position in Precision Drilling in the 3rd quarter valued at $325,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Precision Drilling in the 3rd quarter valued at $583,000. 48.86% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Stock Down 0.0%

Shares of NYSE PDS opened at $98.27 on Wednesday. The business has a 50-day moving average price of $88.79 and a 200 day moving average price of $71.90. The stock has a market cap of $1.27 billion, a PE ratio of -251.96 and a beta of 1.01. The company has a quick ratio of 1.46, a current ratio of 1.62 and a debt-to-equity ratio of 0.43. Precision Drilling has a 52-week low of $36.20 and a 52-week high of $103.80.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings results on Wednesday, February 11th. The oil and gas company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.11 by $0.26. The company had revenue of $349.37 million for the quarter, compared to analyst estimates of $489.80 million. Precision Drilling had a return on equity of 4.12% and a net margin of 0.05%. Equities research analysts forecast that Precision Drilling will post 7.1 earnings per share for the current year.

About Precision Drilling

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.