Precision Drilling Corp (NYSE:PDS) (TSE:PD) has been given an average recommendation of “Buy” by the ten ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $4.56.

A number of equities analysts have weighed in on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $5.25 target price on shares of Precision Drilling in a research report on Tuesday, July 31st. Zacks Investment Research lowered shares of Precision Drilling from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th. Canaccord Genuity upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating in a research report on Friday, November 9th. Credit Suisse Group increased their target price on shares of Precision Drilling from $3.80 to $3.90 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Finally, Raymond James reiterated a “buy” rating on shares of Precision Drilling in a research report on Tuesday, October 30th.

A number of large investors have recently modified their holdings of PDS. AGF Investments Inc. boosted its position in Precision Drilling by 107.1% during the second quarter. AGF Investments Inc. now owns 4,910,191 shares of the oil and gas company’s stock worth $16,247,000 after purchasing an additional 2,538,700 shares during the period. Millennium Management LLC purchased a new stake in shares of Precision Drilling in the first quarter worth about $3,062,000. LSV Asset Management purchased a new stake in shares of Precision Drilling in the second quarter worth about $3,187,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Precision Drilling by 52.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,109,816 shares of the oil and gas company’s stock worth $6,977,000 after buying an additional 730,166 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Precision Drilling by 62.4% in the second quarter. Toronto Dominion Bank now owns 1,666,313 shares of the oil and gas company’s stock worth $5,536,000 after buying an additional 640,098 shares in the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

PDS traded up $0.03 during trading on Thursday, hitting $2.48. 863,300 shares of the company traded hands, compared to its average volume of 1,951,405. The firm has a market cap of $719.76 million, a P/E ratio of -8.86 and a beta of 2.10. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.73 and a current ratio of 1.85. Precision Drilling has a one year low of $2.31 and a one year high of $4.14.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Thursday, October 25th. The oil and gas company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). The company had revenue of $292.65 million for the quarter, compared to the consensus estimate of $306.54 million. Precision Drilling had a negative net margin of 9.77% and a negative return on equity of 6.59%. Equities research analysts predict that Precision Drilling will post -0.29 earnings per share for the current fiscal year.

Precision Drilling Company Profile

Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Analyst Recommendations for Precision Drilling (NYSE:PDS)

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