Precision Drilling Corp (NYSE:PDS) (TSE:PD) has been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4.77.
Several research analysts have issued reports on the company. ValuEngine raised Precision Drilling from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research raised Precision Drilling from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a report on Tuesday, July 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $5.25 price objective on shares of Precision Drilling in a report on Tuesday, July 31st. Morgan Stanley raised Precision Drilling from an “equal weight” rating to an “overweight” rating and set a $4.25 price objective on the stock in a report on Thursday, July 12th. Finally, Credit Suisse Group upped their price objective on Precision Drilling from $3.80 to $3.90 and gave the stock a “neutral” rating in a report on Friday, July 27th.
NYSE:PDS traded down $0.08 during trading hours on Friday, hitting $4.00. 78,894 shares of the stock were exchanged, compared to its average volume of 1,378,355. Precision Drilling has a twelve month low of $2.26 and a twelve month high of $4.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.65 and a current ratio of 1.79. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -14.29 and a beta of 1.79.
Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Thursday, July 26th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Precision Drilling had a negative return on equity of 6.23% and a negative net margin of 9.92%. The firm had revenue of $330.70 million for the quarter, compared to analyst estimates of $320.66 million. During the same period in the prior year, the company posted ($0.12) EPS. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. equities analysts predict that Precision Drilling will post -0.22 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of PDS. AGF Investments Inc. lifted its stake in shares of Precision Drilling by 107.1% in the 2nd quarter. AGF Investments Inc. now owns 4,910,191 shares of the oil and gas company’s stock valued at $16,247,000 after purchasing an additional 2,538,700 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Precision Drilling in the 1st quarter valued at $5,902,000. Royal Bank of Canada lifted its stake in shares of Precision Drilling by 36.7% in the 1st quarter. Royal Bank of Canada now owns 5,920,208 shares of the oil and gas company’s stock valued at $16,400,000 after purchasing an additional 1,589,507 shares during the period. Ninepoint Partners LP lifted its stake in shares of Precision Drilling by 81.7% in the 1st quarter. Ninepoint Partners LP now owns 3,169,200 shares of the oil and gas company’s stock valued at $8,779,000 after purchasing an additional 1,425,000 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Precision Drilling in the 1st quarter valued at $3,062,000. 50.90% of the stock is currently owned by institutional investors.
About Precision Drilling
Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
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