Precision Drilling Corporation (PDS) Upgraded by ValuEngine to Sell
ValuEngine upgraded shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) from a strong sell rating to a sell rating in a research report sent to investors on Monday morning.
PDS has been the subject of a number of other reports. Jefferies Group LLC restated a buy rating and issued a $4.50 price objective (down from $6.00) on shares of Precision Drilling Corporation in a research report on Wednesday, August 2nd. TD Securities assumed coverage on shares of Precision Drilling Corporation in a research note on Monday, September 11th. They set a buy rating for the company. Zacks Investment Research lowered shares of Precision Drilling Corporation from a hold rating to a sell rating in a report on Friday, July 21st. BidaskClub lowered shares of Precision Drilling Corporation from a sell rating to a strong sell rating in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies reaffirmed a hold rating and set a $3.25 target price on shares of Precision Drilling Corporation in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $6.30.
Shares of Precision Drilling Corporation (PDS) opened at 2.89 on Monday. The company’s market cap is $847.46 million. The stock’s 50 day moving average is $2.78 and its 200-day moving average is $3.48. Precision Drilling Corporation has a one year low of $2.38 and a one year high of $6.25.
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last posted its earnings results on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.07. Precision Drilling Corporation had a negative return on equity of 7.10% and a negative net margin of 12.38%. The business had revenue of $275.52 million during the quarter, compared to analyst estimates of $271.33 million. During the same quarter in the previous year, the firm earned ($0.20) EPS. The company’s quarterly revenue was up 68.0% compared to the same quarter last year. Equities research analysts forecast that Precision Drilling Corporation will post ($0.32) earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC bought a new stake in Precision Drilling Corporation during the second quarter worth about $158,000. Scotia Capital Inc. boosted its holdings in shares of Precision Drilling Corporation by 326.1% in the 2nd quarter. Scotia Capital Inc. now owns 545,570 shares of the oil and gas company’s stock worth $1,855,000 after purchasing an additional 417,523 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of Precision Drilling Corporation by 25.7% in the 2nd quarter. Bank of Nova Scotia now owns 130,715 shares of the oil and gas company’s stock worth $447,000 after purchasing an additional 26,690 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Precision Drilling Corporation by 200.1% in the 2nd 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. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Precision Drilling Corporation by 6.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 926,685 shares of the oil and gas company’s stock worth $3,160,000 after purchasing an additional 52,501 shares in the last quarter. Institutional investors and hedge funds own 61.43% of the company’s stock.
Precision Drilling Corporation Company Profile
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.
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