Precision Drilling Corporation (PDS) – What Are Researchers Thinking About This Stock?

Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have earned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $129.25.

A number of analysts have weighed in on PDS shares. Wall Street Zen cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. TD Securities upgraded Precision Drilling from a “hold” rating to a “buy” rating and increased their price target for the company from $116.00 to $150.00 in a research note on Tuesday. Zacks Research upgraded Precision Drilling from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Precision Drilling in a report on Friday, September 18th.

Hedge Funds Weigh In On Precision Drilling

Several large investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. boosted its stake in shares of Precision Drilling by 67.0% during the first quarter. Hillsdale Investment Management Inc. now owns 487,434 shares of the oil and gas company’s stock valued at $47,957,000 after purchasing an additional 195,598 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Precision Drilling by 24.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 373,936 shares of the oil and gas company’s stock worth $36,803,000 after purchasing an additional 73,084 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Precision Drilling by 37.0% in the first quarter. Dimensional Fund Advisors LP now owns 288,013 shares of the oil and gas company’s stock valued at $28,340,000 after buying an additional 77,775 shares during the period. Bank of America Corp DE increased its stake in shares of Precision Drilling by 129.5% in the first quarter. Bank of America Corp DE now owns 114,706 shares of the oil and gas company’s stock valued at $11,287,000 after buying an additional 64,735 shares during the period. Finally, Equinox Partners Investment Management LLC raised its holdings in Precision Drilling by 116.6% in the 1st quarter. Equinox Partners Investment Management LLC now owns 65,211 shares of the oil and gas company’s stock valued at $6,415,000 after buying an additional 35,100 shares during the last quarter. 48.86% of the stock is currently owned by institutional investors.

Precision Drilling Trading Down 1.3%

Shares of Precision Drilling stock opened at $90.59 on Friday. The firm has a market capitalization of $1.14 billion, a PE ratio of -43.35 and a beta of 0.95. The company has a current ratio of 1.46, a quick ratio of 1.29 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $87.04 and its 200 day moving average is $87.14. Precision Drilling has a 1 year low of $55.00 and a 1 year high of $103.80.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Tuesday, July 28th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.81). The company had revenue of $319.15 million for the quarter, compared to analyst estimates of $310.70 million. Precision Drilling had a positive return on equity of 2.11% and a negative net margin of 1.68%. Equities research analysts forecast that Precision Drilling will post 4.71 earnings per share for the current fiscal year.

About Precision Drilling

Precision Drilling Corporation is an oilfield services company headquartered in Calgary, Alberta. The company provides contract drilling and related services to oil and natural gas exploration and production companies, with operations serving customers primarily in Canada and the United States as well as selected international markets.

Its Contract Drilling Services segment operates land-based drilling rigs and provides associated equipment, personnel and technical expertise. Precision also offers directional drilling and other technologies designed to support the construction of complex horizontal and extended-reach wells.

Through its Completion and Production Services business, the company provides well servicing, snubbing, rental equipment, camp and catering services, and other support activities used during well completion, maintenance and production.