Deutsche Bank AG started coverage on shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) in a report released on Tuesday morning, MarketBeat reports. The brokerage issued a hold rating and a $4.00 target price on the oil and gas company’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Jaffray Companies upgraded shares of Precision Drilling Corporation from a neutral rating to an overweight rating and upped their price target for the company from $3.60 to $4.25 in a report on Monday, September 18th. Morgan Stanley cut shares of Precision Drilling Corporation from an overweight rating to an equal weight rating and reduced their price target for the company from $9.00 to $4.50 in a report on Wednesday, June 21st. Royal Bank Of Canada reiterated an outperform rating and issued a $6.00 price target (down previously from $7.00) on shares of Precision Drilling Corporation in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Precision Drilling Corporation from a sell rating to a hold rating in a report on Friday, July 28th. Finally, ValuEngine cut shares of Precision Drilling Corporation from a sell rating to a strong sell rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $5.58.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.07. The firm had revenue of $275.52 million during 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 for the quarter was up 68.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.20) earnings per share.

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Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP bought a new position in shares of Precision Drilling Corporation during the first quarter valued at $102,000. Pacad Investment Ltd. increased its holdings in shares of Precision Drilling Corporation by 81.2% during the second quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 14,700 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Precision Drilling Corporation by 200.1% during the second quarter. Tower Research Capital LLC TRC now owns 29,724 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 19,819 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Precision Drilling Corporation during the second quarter valued at $158,000. Finally, Winch Advisory Services LLC increased its holdings in shares of Precision Drilling Corporation by 38.4% during the second quarter. Winch Advisory Services LLC now owns 72,782 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 20,176 shares in the last quarter. Institutional investors and hedge funds own 61.43% 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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