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

Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $122.3333.

Several equities research analysts have recently issued reports on PDS shares. Royal Bank Of Canada lifted their price objective on shares of Precision Drilling from $124.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, March 23rd. Wall Street Zen lowered Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings cut Precision Drilling from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Precision Drilling in a report on Thursday, April 30th. Finally, Zacks Research downgraded Precision Drilling from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st.

Precision Drilling Stock Down 0.0%

Shares of Precision Drilling stock opened at $81.92 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. Precision Drilling has a 52-week low of $49.30 and a 52-week high of $103.80. The company has a market capitalization of $1.05 billion, a P/E ratio of -87.15 and a beta of 0.76. The company has a 50 day moving average of $87.85 and a 200 day moving average of $87.13.

Institutional Investors Weigh In On Precision Drilling

Institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in Precision Drilling in the first quarter valued at approximately $45,000. Quarry LP acquired a new stake in Precision Drilling during the third quarter worth approximately $54,000. Raymond James Financial Inc. purchased a new stake in shares of Precision Drilling during the 2nd quarter worth approximately $57,000. Wolverine Asset Management LLC lifted its position in shares of Precision Drilling by 112.9% during the 4th quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock worth $58,000 after buying an additional 7,000 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 48.86% of the company’s stock.

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.