Precision Drilling (NYSE:PDS) (TSE:PD)‘s stock had its “buy” rating reiterated by investment analysts at Canaccord Genuity in a research note issued to investors on Friday, TipRanks reports.

Several other equities analysts have also commented on the stock. Morgan Stanley reduced their target price on shares of Precision Drilling from $3.50 to $3.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Zacks Investment Research lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James reaffirmed a “buy” rating on shares of Precision Drilling in a report on Wednesday, June 5th. Piper Jaffray Companies reduced their target price on shares of Precision Drilling from $2.50 to $2.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, AltaCorp Capital reaffirmed an “outperform” rating on shares of Precision Drilling in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $2.47.

NYSE PDS traded up $0.18 on Friday, hitting $1.27. The stock had a trading volume of 168,799 shares, compared to its average volume of 895,406. Precision Drilling has a 52-week low of $1.07 and a 52-week high of $4.12. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.70 and a current ratio of 1.83. The company has a market capitalization of $320.22 million, a price-to-earnings ratio of -4.85 and a beta of 2.25. The firm has a 50-day moving average of $1.64 and a 200-day moving average of $2.11.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Thursday, July 25th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. Precision Drilling had a negative net margin of 13.63% and a negative return on equity of 2.67%. The business had revenue of $359.00 million for the quarter, compared to analysts’ expectations of $346.66 million. During the same period in the prior year, the company posted ($0.16) EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Precision Drilling will post -0.11 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Marshall Wace LLP bought a new stake in Precision Drilling during the first quarter valued at approximately $36,000. Investment House LLC purchased a new position in shares of Precision Drilling in the second quarter worth $39,000. Evergreen Capital Management LLC purchased a new position in shares of Precision Drilling in the first quarter worth $54,000. Millennium Management LLC purchased a new position in shares of Precision Drilling in the fourth quarter worth $40,000. Finally, Creative Planning purchased a new position in shares of Precision Drilling in the first quarter worth $65,000. Hedge funds and other institutional investors own 38.58% of the company’s stock.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, 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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