Precision Drilling (NYSE:PDS) Price Target Cut to $95.00 by Analysts at Piper Sandler

Precision Drilling (NYSE:PDS) (TSE:PD) had its price objective dropped by stock analysts at Piper Sandler from $101.00 to $95.00 in a report released on Monday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s target price suggests a potential upside of 24.09% from the stock’s current price.

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 given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Precision Drilling currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.50.

Precision Drilling Price Performance

Shares of PDS opened at $76.56 on Monday. The firm has a market capitalization of $1.09 billion, a PE ratio of 6.73 and a beta of 2.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.71 and a quick ratio of 1.59. Precision Drilling has a 1-year low of $49.67 and a 1-year high of $77.21. The company’s fifty day moving average price is $70.04 and its 200-day moving average price is $65.83.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). The company had revenue of $391.51 million for the quarter, compared to analysts’ expectations of $399.44 million. Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. On average, equities research analysts predict that Precision Drilling will post 6.11 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PDS. Russell Investments Group Ltd. purchased a new stake in shares of Precision Drilling during the 4th quarter worth about $88,000. Alberta Investment Management Corp purchased a new stake in shares of Precision Drilling during the 4th quarter worth about $229,000. Aigen Investment Management LP purchased a new stake in shares of Precision Drilling during the 4th quarter worth about $244,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Precision Drilling during the 4th quarter worth about $446,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Precision Drilling by 7.3% during the 4th quarter. CIBC Asset Management Inc now owns 13,057 shares of the oil and gas company’s stock worth $711,000 after acquiring an additional 892 shares in the last quarter. 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.