Precision Drilling Co. (NYSE:PDS) Receives Average Recommendation of “Buy” from Analysts

Shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) have earned an average rating of “Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $44.00.

Several research analysts recently commented on the stock. StockNews.com lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Piper Sandler reduced their price objective on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th.

Precision Drilling Trading Up 1.7 %

Shares of NYSE:PDS opened at $71.12 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.59 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.03 billion, a PE ratio of 6.25 and a beta of 2.08. Precision Drilling has a 12-month low of $41.56 and a 12-month high of $77.21. The business’s fifty day simple moving average is $67.00 and its 200-day simple moving average is $60.89.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.12). The company had revenue of $391.51 million during the quarter, compared to analysts’ expectations of $399.44 million. Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. As a group, equities research analysts predict that Precision Drilling will post 6.49 earnings per share for the current fiscal year.

Institutional Trading of Precision Drilling

Several large investors have recently made changes to their positions in the business. Swiss National Bank boosted its holdings in shares of Precision Drilling by 0.7% in the 3rd quarter. Swiss National Bank now owns 30,000 shares of the oil and gas company’s stock valued at $2,027,000 after acquiring an additional 200 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Precision Drilling by 41.3% in the 3rd quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 269 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Precision Drilling by 2.7% in the 3rd quarter. CIBC Asset Management Inc now owns 12,165 shares of the oil and gas company’s stock valued at $818,000 after acquiring an additional 324 shares during the last quarter. Scotia Capital Inc. boosted its holdings in shares of Precision Drilling by 2.7% in the 4th quarter. Scotia Capital Inc. now owns 13,608 shares of the oil and gas company’s stock valued at $736,000 after acquiring an additional 355 shares during the last quarter. Finally, Navellier & Associates Inc. boosted its holdings in shares of Precision Drilling by 9.2% in the 3rd quarter. Navellier & Associates Inc. now owns 5,048 shares of the oil and gas company’s stock valued at $339,000 after acquiring an additional 424 shares during the last quarter. 48.86% of the stock is owned by hedge funds and other institutional investors.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.