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

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $122.3333.

A number of equities analysts have recently weighed in on the company. TD Securities reaffirmed a “hold” rating on shares of Precision Drilling in a research note on Friday, May 1st. Zacks Research raised Precision Drilling from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Precision Drilling in a research note on Friday, May 1st. BMO Capital Markets reaffirmed an “outperform” rating on shares of Precision Drilling in a research note on Thursday, April 30th. Finally, Weiss Ratings raised Precision Drilling from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th.

Hedge Funds Weigh In On Precision Drilling

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC boosted its stake in 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 valued at $58,000 after buying an additional 7,000 shares during the last quarter. Group One Trading LLC bought a new position in Precision Drilling during the first quarter valued at approximately $81,000. Quarry LP bought a new position in Precision Drilling during the third quarter valued at approximately $54,000. Cubist Systematic Strategies LLC bought a new position in Precision Drilling during the first quarter valued at approximately $45,000. Finally, US Bancorp DE boosted its stake in Precision Drilling by 52.3% during the third 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. 48.86% of the stock is owned by institutional investors.

Precision Drilling Stock Performance

NYSE PDS opened at $98.31 on Thursday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -104.59 and a beta of 0.79. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $94.21 and a 200-day moving average price of $80.48. Precision Drilling has a twelve month low of $40.39 and a twelve month high of $103.80.

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.