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

Shares of Precision Drilling Corporation (NYSE:PDS - Get Free Report) TSE: PD have received an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $98.00.

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Several research firms have recently weighed in on PDS. Atb Cap Markets upgraded Precision Drilling to a "strong-buy" rating in a research note on Thursday, October 30th. Piper Sandler increased their price target on shares of Precision Drilling from $74.00 to $79.00 and gave the company an "overweight" rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Precision Drilling in a research report on Friday, October 31st. Zacks Research downgraded Precision Drilling from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada boosted their price target on shares of Precision Drilling from $110.00 to $117.00 and gave the company an "outperform" rating in a report on Friday, October 24th.

View Our Latest Analysis on PDS

Institutional Trading of Precision Drilling

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp lifted its position in shares of Precision Drilling by 5.8% in the first quarter. Mackenzie Financial Corp now owns 9,752 shares of the oil and gas company's stock valued at $453,000 after buying an additional 533 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Precision Drilling in the first quarter valued at approximately $344,000. Aegis Financial Corp raised its holdings in Precision Drilling by 58.1% in the 1st quarter. Aegis Financial Corp now owns 195,505 shares of the oil and gas company's stock valued at $9,089,000 after acquiring an additional 71,867 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Precision Drilling by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,023 shares of the oil and gas company's stock worth $1,442,000 after buying an additional 835 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Precision Drilling by 1.4% during the 1st quarter. National Bank of Canada FI now owns 739,842 shares of the oil and gas company's stock worth $34,093,000 after acquiring an additional 10,216 shares in the last quarter. Institutional investors own 48.86% of the company's stock.

Precision Drilling Stock Performance

Shares of PDS opened at $60.07 on Thursday. Precision Drilling has a 52 week low of $36.20 and a 52 week high of $67.35. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.42 and a current ratio of 1.58. The company has a market capitalization of $787.40 million, a PE ratio of 22.33 and a beta of 1.15. The company's 50 day moving average price is $57.53 and its 200 day moving average price is $53.35.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its earnings results on Wednesday, October 22nd. The oil and gas company reported ($0.37) EPS for the quarter, missing the consensus estimate of $1.20 by ($1.57). Precision Drilling had a return on equity of 3.44% and a net margin of 3.17%.The business had revenue of $331.90 million during the quarter, compared to the consensus estimate of $471.38 million. Research analysts expect that Precision Drilling will post 7.1 EPS for the current fiscal year.

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.

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