Precision Drilling Corporation (NYSE:PDS) Stock Has Consensus Price Target of $122.33 According to Brokerages

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

Several research analysts recently commented on PDS shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Precision Drilling in a report on Friday, September 18th. Wall Street Zen lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. TD Securities raised shares of Precision Drilling from a “hold” rating to a “buy” rating and boosted their target price for the company from $116.00 to $150.00 in a report on Tuesday. Finally, Zacks Research raised shares of Precision Drilling from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th.

Precision Drilling Price Performance

Shares of NYSE:PDS opened at $91.59 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.15 billion, a PE ratio of -43.82 and a beta of 0.95. Precision Drilling has a twelve month low of $54.00 and a twelve month high of $103.80. The company has a 50-day moving average price of $86.72 and a two-hundred day moving average price of $87.18.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Tuesday, July 28th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.81). Precision Drilling had a positive return on equity of 2.11% and a negative net margin of 1.68%. The business had revenue of $319.15 million during the quarter, compared to analysts’ expectations of $310.70 million. Equities analysts forecast that Precision Drilling will post 4.83 EPS for the current year.

Hedge Funds Weigh In On Precision Drilling

A number of large investors have recently made changes to their positions in PDS. Group One Trading LLC bought a new stake in shares of Precision Drilling during the first quarter valued at about $81,000. Plato Investment Management Ltd bought a new position in Precision Drilling in the 2nd quarter worth about $190,000. Pictet Asset Management Holding SA purchased a new stake in shares of Precision Drilling in the 1st quarter valued at about $300,000. Amundi raised its holdings in shares of Precision Drilling by 6.9% in the 1st quarter. Amundi now owns 3,095 shares of the oil and gas company’s stock valued at $305,000 after acquiring an additional 201 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Precision Drilling by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,171 shares of the oil and gas company’s stock valued at $607,000 after acquiring an additional 128 shares in the last quarter. 48.86% of the stock is owned by institutional investors.

Precision Drilling Company Profile

Precision Drilling Corporation is an oilfield services company that provides contract drilling and related services to oil and natural gas exploration and production companies. Its primary business is the operation of land-based drilling rigs, supported by services such as directional drilling, managed pressure drilling, digital rig technologies and other solutions designed to improve drilling performance, safety and efficiency.

The company also provides completion and production services, including well servicing, camp and equipment rentals, and other support activities used during the construction, maintenance and production phases of oil and gas wells.