Precision Drilling (NYSE:PDS) PT Raised to $101.00

Precision Drilling (NYSE:PDS) (TSE:PD) had its price objective increased by Piper Sandler from $81.00 to $101.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Separately, StockNews.com downgraded shares of Precision Drilling from a buy rating to a hold rating in a research report on Friday, April 26th. Two 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. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $118.50.

Precision Drilling Trading Up 1.9 %

Shares of NYSE PDS opened at $74.31 on Monday. Precision Drilling has a fifty-two week low of $41.56 and a fifty-two week high of $77.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.59 and a current ratio of 1.71. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 6.53 and a beta of 2.08. The business’s 50 day moving average price is $68.29 and its 200-day moving average price is $61.27.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. The company had revenue of $391.51 million for the quarter, compared to analysts’ expectations of $399.44 million. On average, sell-side analysts expect that Precision Drilling will post 6.49 earnings per share for the current year.

Hedge Funds Weigh In On Precision Drilling

Several hedge funds have recently modified their holdings of PDS. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Precision Drilling by 41.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,725 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 1,084 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Precision Drilling by 117.2% during the third quarter. TD Asset Management Inc now owns 104,956 shares of the oil and gas company’s stock worth $7,065,000 after buying an additional 56,623 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Precision Drilling by 2.7% during the third quarter. CIBC Asset Management Inc now owns 12,165 shares of the oil and gas company’s stock valued at $818,000 after buying an additional 324 shares during the last quarter. Signaturefd LLC raised its stake in Precision Drilling by 41.3% in the 3rd quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 269 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Precision Drilling in the 3rd quarter worth $243,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.