TD Securities started coverage on shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) in a research note published on Monday. The firm issued a buy rating on the oil and gas company’s stock.

Other analysts also recently issued research reports about the stock. UBS AG upgraded shares of Precision Drilling Corporation from an outperform rating to a strong-buy rating in a report on Thursday, July 6th. Morgan Stanley downgraded shares of Precision Drilling Corporation from an overweight rating to an equal weight rating and lowered their target price for the company from $9.00 to $4.50 in a report on Wednesday, June 21st. BidaskClub upgraded shares of Precision Drilling Corporation from a strong sell rating to a sell rating in a report on Tuesday, June 13th. Piper Jaffray Companies downgraded shares of Precision Drilling Corporation from an overweight rating to a neutral rating and lowered their target price for the company from $5.00 to $3.25 in a report on Thursday, June 29th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $4.50 target price (down previously from $6.00) on shares of Precision Drilling Corporation in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Precision Drilling Corporation has an average rating of Buy and a consensus target price of $6.21.

Precision Drilling Corporation (NYSE PDS) traded down 0.842% on Monday, hitting $2.707. 350,219 shares of the stock traded hands. The firm’s market capitalization is $793.80 million. The stock has a 50 day moving average of $2.78 and a 200 day moving average of $3.69. Precision Drilling Corporation has a 52 week low of $2.38 and a 52 week high of $6.25.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last announced its earnings results on Monday, July 31st. The oil and gas company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.07. The company had revenue of $275.52 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 68.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.20) earnings per share. Equities research analysts anticipate that Precision Drilling Corporation will post ($0.33) earnings per share for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in shares of Precision Drilling Corporation in the first quarter worth about $102,000. Cipher Capital LP purchased a new position in shares of Precision Drilling Corporation in the first quarter worth about $120,000. Tower Research Capital LLC TRC increased its stake in shares of Precision Drilling Corporation by 200.1% in the second quarter. Tower Research Capital LLC TRC now owns 29,724 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 19,819 shares in the last quarter. Pacad Investment Ltd. increased its stake in shares of Precision Drilling Corporation by 81.2% in the second quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 14,700 shares in the last quarter. Finally, Princeton Alpha Management LP increased its stake in shares of Precision Drilling Corporation by 18.3% in the first quarter. Princeton Alpha Management LP now owns 37,809 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 5,861 shares in the last quarter. Hedge funds and other institutional investors own 61.45% of the company’s stock.

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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