Precision Drilling Corporation (PDS) Downgraded to “Underperform” at Scotiabank
PDS has been the subject of several other reports. Piper Jaffray Companies upgraded Precision Drilling Corporation from a neutral rating to an overweight rating and increased their target price for the company from $3.60 to $4.25 in a research note on Monday, September 18th. Cowen and Company set a $5.00 price target on Precision Drilling Corporation and gave the company a buy rating in a research report on Wednesday, October 18th. Royal Bank Of Canada reissued an outperform rating and set a $6.00 price target (down from $7.00) on shares of Precision Drilling Corporation in a research report on Friday, October 6th. Zacks Investment Research raised Precision Drilling Corporation from a sell rating to a hold rating in a research report on Friday, July 28th. Finally, ValuEngine lowered Precision Drilling Corporation from a sell rating to a strong sell rating in a research report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $5.04.
Precision Drilling Corporation (NYSE PDS) opened at $3.01 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 2.10 and a debt-to-equity ratio of 0.96. Precision Drilling Corporation has a one year low of $2.26 and a one year high of $6.25.
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last released its earnings results on Friday, October 27th. The oil and gas company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The company had revenue of $314.50 million during the quarter, compared to analysts’ expectations of $320.36 million. Precision Drilling Corporation had a negative return on equity of 5.93% and a negative net margin of 9.45%. The business’s revenue was up 47.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.16) EPS. equities research analysts predict that Precision Drilling Corporation will post -0.32 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Pacad Investment Ltd. increased its position in 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 buying an additional 14,700 shares during the period. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in Precision Drilling Corporation in the third quarter worth $126,000. Tower Research Capital LLC TRC increased its position in 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 buying an additional 19,819 shares during the period. Verition Fund Management LLC acquired a new stake in Precision Drilling Corporation in the second quarter worth $158,000. Finally, Winch Advisory Services LLC increased its position in Precision Drilling Corporation by 38.4% in the second quarter. Winch Advisory Services LLC now owns 72,782 shares of the oil and gas company’s stock worth $248,000 after buying an additional 20,176 shares during the period. 59.60% of the stock is currently owned by hedge funds and other institutional investors.
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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