Precision Drilling Co. (NYSE:PDS) Receives $48.00 Consensus Price Target from Analysts

Precision Drilling Co. (NYSE:PDS) (TSE:PD) has received an average rating of “Buy” from the five research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $48.00.

Several research analysts have weighed in on the company. StockNews.com downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Piper Sandler lifted their target price on Precision Drilling from $81.00 to $101.00 and gave the company an “overweight” rating in a research note on Monday, May 6th.

Precision Drilling Trading Up 1.4 %

PDS opened at $70.47 on Friday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 6.19 and a beta of 2.01. Precision Drilling has a 52 week low of $45.09 and a 52 week high of $77.21. The business’s 50 day moving average is $69.78 and its two-hundred day moving average is $64.10. The company has a quick ratio of 1.59, a current ratio of 1.71 and a debt-to-equity ratio of 0.57.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.12). The firm had revenue of $391.51 million for the quarter, compared to analyst estimates of $399.44 million. Precision Drilling had a return on equity of 10.10% and a net margin of 12.00%. On average, research analysts predict that Precision Drilling will post 6.21 EPS for the current year.

Institutional Trading of Precision Drilling

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP purchased a new stake in shares of Precision Drilling in the third quarter valued at approximately $4,638,000. MQS Management LLC purchased a new stake in Precision Drilling during the third quarter worth $297,000. Ninepoint Partners LP purchased a new stake in Precision Drilling during the fourth quarter worth $74,649,000. Greatmark Investment Partners Inc. boosted its position in Precision Drilling by 25.1% during the fourth quarter. Greatmark Investment Partners Inc. now owns 59,627 shares of the oil and gas company’s stock worth $3,237,000 after purchasing an additional 11,955 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Precision Drilling by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 48,957 shares of the oil and gas company’s stock worth $2,658,000 after purchasing an additional 3,683 shares in the last quarter. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

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.