Precision Drilling Corp (NYSE:PDS) (TSE:PD) has earned a consensus rating of “Buy” from the twelve research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $4.56.
A number of equities analysts have commented on the stock. Credit Suisse Group reduced their target price on shares of Precision Drilling from $3.90 to $3.00 and set a “hold” rating for the company in a report on Monday, November 5th. Scotiabank upgraded shares of Precision Drilling from an “underperform” rating to a “sector perform” rating in a report on Friday, October 26th. Piper Jaffray Companies set a $6.00 target price on shares of Precision Drilling and gave the stock a “buy” rating in a report on Wednesday, October 3rd. TD Securities reiterated a “buy” rating on shares of Precision Drilling in a report on Thursday, November 29th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Precision Drilling in a report on Sunday, November 25th.
Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Precision Drilling by 138.1% during the second quarter. Bank of New York Mellon Corp now owns 35,916 shares of the oil and gas company’s stock worth $119,000 after acquiring an additional 20,833 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Precision Drilling during the third quarter worth about $128,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Precision Drilling by 112.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 59,537 shares of the oil and gas company’s stock worth $197,000 after acquiring an additional 31,461 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Precision Drilling during the second quarter worth about $202,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of Precision Drilling by 2,089.7% during the second quarter. Canada Pension Plan Investment Board now owns 207,894 shares of the oil and gas company’s stock worth $687,000 after acquiring an additional 198,400 shares during the last quarter. Institutional investors and hedge funds own 48.68% of the company’s stock.
Precision Drilling stock traded up $0.01 during trading hours on Monday, reaching $2.11. The stock had a trading volume of 993,481 shares, compared to its average volume of 1,386,346. The company has a current ratio of 1.85, a quick ratio of 1.73 and a debt-to-equity ratio of 0.98. Precision Drilling has a 52 week low of $2.03 and a 52 week high of $4.14.
Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Thursday, October 25th. The oil and gas company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). The firm had revenue of $292.65 million during the quarter, compared to the consensus estimate of $306.54 million. Precision Drilling had a negative return on equity of 6.59% and a negative net margin of 9.77%. As a group, sell-side analysts anticipate that Precision Drilling will post -0.31 earnings per share for the current year.
Precision Drilling Company Profile
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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