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

Shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) have been assigned a consensus recommendation of “Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $48.00.

PDS has been the subject of several analyst reports. StockNews.com downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Piper Sandler upped their price objective on shares of Precision Drilling from $81.00 to $101.00 and gave the company an “overweight” rating in a research note on Monday.

Precision Drilling Stock Up 0.2 %

PDS stock opened at $72.94 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.71 and a quick ratio of 1.59. Precision Drilling has a 12 month low of $41.56 and a 12 month high of $77.21. The firm has a market capitalization of $1.06 billion, a PE ratio of 6.41 and a beta of 2.08. The company’s 50 day simple moving average is $67.99 and its 200-day simple moving average is $61.18.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Swiss National Bank boosted its position in shares of Precision Drilling by 0.7% in the third quarter. Swiss National Bank now owns 30,000 shares of the oil and gas company’s stock worth $2,027,000 after acquiring an additional 200 shares during the last quarter. Signaturefd LLC raised its stake in Precision Drilling by 41.3% during the third quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 269 shares during the period. 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 purchasing an additional 324 shares during the last quarter. Scotia Capital Inc. grew its stake in shares of Precision Drilling by 2.7% during the 4th quarter. Scotia Capital Inc. now owns 13,608 shares of the oil and gas company’s stock valued at $736,000 after buying an additional 355 shares during the period. Finally, Navellier & Associates Inc. increased its holdings in shares of Precision Drilling by 9.2% during the 3rd quarter. Navellier & Associates Inc. now owns 5,048 shares of the oil and gas company’s stock worth $339,000 after buying an additional 424 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Company Profile

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.