Precision Drilling Corporation (NYSE:PDS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $122.3333.

A number of equities analysts recently weighed in on PDS shares. Weiss Ratings downgraded shares of Precision Drilling from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. TD Securities reissued a “hold” rating on shares of Precision Drilling in a research note on Friday, May 1st. BMO Capital Markets restated an “outperform” rating on shares of Precision Drilling in a research note on Thursday, April 30th. Wall Street Zen lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Zacks Research downgraded Precision Drilling from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PDS. FIL Ltd lifted its stake in shares of Precision Drilling by 27,294.7% during the fourth quarter. FIL Ltd now owns 850,331 shares of the oil and gas company’s stock worth $61,017,000 after buying an additional 847,227 shares during the period. National Bank of Canada FI lifted its position in Precision Drilling by 0.6% during the third quarter. National Bank of Canada FI now owns 735,460 shares of the oil and gas company’s stock worth $41,265,000 after buying an additional 4,236 shares in the last quarter. Aegis Financial Corp raised its position in Precision Drilling by 11.4% in the fourth quarter. Aegis Financial Corp now owns 504,059 shares of the oil and gas company’s stock valued at $36,221,000 after purchasing an additional 51,700 shares during the period. Hillsdale Investment Management Inc. lifted its stake in 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 worth $47,957,000 after purchasing an additional 195,598 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Precision Drilling by 24.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 483,937 shares of the oil and gas company’s stock worth $27,262,000 after purchasing an additional 96,339 shares in the last quarter. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Precision Drilling Trading Down 0.9%

Shares of PDS opened at $82.69 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.52 and a current ratio of 1.70. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -87.97 and a beta of 0.76. Precision Drilling has a 52-week low of $48.59 and a 52-week high of $103.80. The business’s fifty day moving average is $88.21 and its 200-day moving average is $86.96.

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.