Cowen and Company Analysts Give Precision Drilling Corporation (PDS) a $5.00 Price Target
Cowen and Company set a $5.00 price target on Precision Drilling Corporation (NYSE:PDS) (TSE:PD) in a report published on Wednesday morning. The firm currently has a buy rating on the oil and gas company’s stock.
A number of other brokerages have also recently issued reports on PDS. Jefferies Group LLC reiterated a buy rating and set a $4.50 price objective (down previously from $6.00) on shares of Precision Drilling Corporation in a research note on Wednesday, August 2nd. TD Securities started coverage on Precision Drilling Corporation in a research note on Monday, September 11th. They set a buy rating on the stock. ValuEngine upgraded Precision Drilling Corporation from a strong sell rating to a sell rating in a research note on Monday, October 2nd. Zacks Investment Research cut Precision Drilling Corporation from a hold rating to a sell rating in a research note on Friday, July 21st. Finally, Deutsche Bank AG started coverage on Precision Drilling Corporation in a research note on Tuesday, October 10th. They set a hold rating and a $4.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Precision Drilling Corporation currently has a consensus rating of Hold and a consensus price target of $5.58.
Precision Drilling Corporation (NYSE:PDS) opened at 2.44 on Wednesday. Precision Drilling Corporation has a one year low of $2.38 and a one year high of $6.25. The firm’s 50-day moving average price is $2.80 and its 200 day moving average price is $3.30. The firm’s market cap is $715.50 million.
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 analysts’ consensus estimates 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 company had revenue of $275.52 million for the quarter, compared to analysts’ expectations of $271.33 million. During the same quarter in the prior year, the business posted ($0.20) EPS. The business’s revenue was up 68.0% compared to the same quarter last year. On average, equities research analysts forecast that Precision Drilling Corporation will post ($0.33) EPS for the current year.
WARNING: This piece was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/21/cowen-and-company-analysts-give-precision-drilling-corporation-pds-a-5-00-price-target.html.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacad Investment Ltd. raised its stake in Precision Drilling Corporation by 81.2% in the 2nd 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 during the period. Tower Research Capital LLC TRC raised its stake in 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 valued at $132,000 after acquiring an additional 19,819 shares during the period. Verition Fund Management LLC bought a new stake in Precision Drilling Corporation in the 2nd quarter valued at $158,000. Winch Advisory Services LLC raised its stake in Precision Drilling Corporation by 38.4% in the 2nd 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 during the period. Finally, Parametric Portfolio Associates LLC raised its stake in Precision Drilling Corporation by 140.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 53,083 shares of the oil and gas company’s stock valued at $251,000 after acquiring an additional 30,964 shares during the period. Institutional investors and hedge funds own 61.42% 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.
Receive News & Stock Ratings for Precision Drilling Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling Corporation and related stocks with our FREE daily email newsletter.