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

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $122.3333.

PDS has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Royal Bank Of Canada upped their target price on shares of Precision Drilling from $124.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, March 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price (up from $81.00) on shares of Precision Drilling in a report on Tuesday, February 17th. Zacks Research raised shares of Precision Drilling from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Finally, TD Securities reaffirmed a “hold” rating on shares of Precision Drilling in a report on Thursday, February 12th.

Precision Drilling Trading Up 0.5%

Shares of PDS stock opened at $95.45 on Wednesday. Precision Drilling has a 1 year low of $36.20 and a 1 year high of $103.80. The firm has a fifty day moving average price of $90.52 and a 200-day moving average price of $73.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.62 and a quick ratio of 1.46. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -244.74 and a beta of 0.96.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.26. The firm had revenue of $349.37 million during the quarter, compared to the consensus estimate of $489.80 million. Precision Drilling had a net margin of 0.05% and a return on equity of 4.12%. As a group, equities analysts predict that Precision Drilling will post 7.1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in Precision Drilling in the 1st quarter worth $45,000. Quarry LP purchased a new stake in Precision Drilling in the 3rd quarter worth $54,000. Raymond James Financial Inc. purchased a new stake in Precision Drilling in the 2nd quarter worth $57,000. Wolverine Asset Management LLC lifted its stake in Precision Drilling by 112.9% in the 4th quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 7,000 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Precision Drilling by 52.3% in 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. Institutional investors own 48.86% of the company’s stock.

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.