Precision Drilling Corporation (NYSE:PDS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $99.00.

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada boosted their price target on Precision Drilling from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Piper Sandler restated an “overweight” rating and issued a $81.00 price target (up previously from $79.00) on shares of Precision Drilling in a report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Precision Drilling in a research note on Wednesday, January 28th. Wall Street Zen lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Finally, ATB Capital upgraded Precision Drilling to a “strong-buy” rating in a report on Thursday, October 30th.

Precision Drilling Stock Performance

NYSE:PDS opened at $88.14 on Tuesday. The company has a market cap of $1.14 billion, a P/E ratio of 32.77 and a beta of 1.04. The firm’s 50 day moving average is $73.30 and its two-hundred day moving average is $62.69. Precision Drilling has a fifty-two week low of $36.20 and a fifty-two week high of $89.61. The company has a quick ratio of 1.42, a current ratio of 1.58 and a debt-to-equity ratio of 0.41.

Hedge Funds Weigh In On Precision Drilling

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wolverine Asset Management LLC lifted its position in shares of Precision Drilling by 112.9% during the fourth quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 7,000 shares in the last quarter. Quarry LP purchased a new stake in Precision Drilling during the 3rd quarter worth $54,000. Cubist Systematic Strategies LLC acquired a new position in Precision Drilling in the 1st quarter worth $45,000. US Bancorp DE boosted its position in Precision Drilling by 52.3% in the 3rd quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 408 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Precision Drilling during the second quarter valued at about $57,000. 48.86% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Company Profile

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.