Cowen and Company reissued their buy rating on shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) in a research note published on Tuesday, July 11th. The firm currently has a $5.00 target price on the oil and gas company’s stock.

Several other research firms also recently weighed in on PDS. Jefferies Group LLC raised shares of Precision Drilling Corporation from a hold rating to a buy rating and set a $7.00 target price on the stock in a research report on Tuesday, April 11th. Zacks Investment Research downgraded shares of Precision Drilling Corporation from a buy rating to a hold rating in a research report on Friday, April 14th. Raymond James Financial, Inc. upgraded shares of Precision Drilling Corporation from a market perform rating to an outperform rating in a report on Wednesday, April 26th. Citigroup Inc. restated an outperform rating on shares of Precision Drilling Corporation in a report on Wednesday, April 26th. Finally, Deutsche Bank AG raised their price target on shares of Precision Drilling Corporation from $8.00 to $10.00 and gave the stock a buy rating in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Precision Drilling Corporation presently has an average rating of Buy and a consensus price target of $6.21.

Shares of Precision Drilling Corporation (PDS) opened at 3.04 on Tuesday. The firm’s market capitalization is $891.44 million. The firm’s 50-day moving average price is $3.19 and its 200 day moving average price is $4.25. Precision Drilling Corporation has a 12 month low of $2.85 and a 12 month high of $6.25.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.07. The company had revenue of $275.52 million for the quarter, compared to analysts’ expectations of $271.33 million. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. The business’s revenue was up 68.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) EPS. Analysts anticipate that Precision Drilling Corporation will post ($0.33) earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Precision Drilling Corporation during the fourth quarter worth about $22,327,000. Dalton Greiner Hartman Maher & Co. raised its position in shares of Precision Drilling Corporation by 86.7% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 5,307,967 shares of the oil and gas company’s stock worth $25,054,000 after buying an additional 2,465,322 shares during the period. Point72 Europe London LLP bought a new position in shares of Precision Drilling Corporation during the first quarter worth about $7,078,000. Systematic Financial Management LP raised its position in shares of Precision Drilling Corporation by 7.7% in the first quarter. Systematic Financial Management LP now owns 15,391,797 shares of the oil and gas company’s stock worth $72,649,000 after buying an additional 1,099,574 shares during the period. Finally, Ferguson Wellman Capital Management Inc. raised its position in shares of Precision Drilling Corporation by 7,387.1% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 906,690 shares of the oil and gas company’s stock worth $4,280,000 after buying an additional 894,580 shares during the period. 63.23% of the stock is currently owned by institutional investors and hedge funds.

About Precision Drilling Corporation

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

Analyst Recommendations for Precision Drilling Corporation (NYSE:PDS)

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