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

Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $122.3333.

A number of brokerages have weighed in on PDS. Weiss Ratings downgraded shares of Precision Drilling from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Zacks Research downgraded shares of Precision Drilling from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th.

Institutional Trading of Precision Drilling

Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Precision Drilling during the first quarter valued at approximately $45,000. Goldman Sachs Group Inc. raised its stake in shares of Precision Drilling by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 138,896 shares of the oil and gas company’s stock valued at $6,475,000 after purchasing an additional 30,690 shares in the last quarter. Geode Capital Management LLC lifted its position in Precision Drilling by 20.3% in the second quarter. Geode Capital Management LLC now owns 65,512 shares of the oil and gas company’s stock worth $3,095,000 after purchasing an additional 11,056 shares during the period. Creative Planning acquired a new stake in Precision Drilling during the second quarter worth $378,000. Finally, Raymond James Financial Inc. acquired a new stake in Precision Drilling during the second quarter worth $57,000. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Stock Performance

Shares of NYSE PDS opened at $93.92 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $82.34 and its two-hundred day moving average is $88.75. The company has a market cap of $1.19 billion, a P/E ratio of -44.94 and a beta of 0.81. Precision Drilling has a 12 month low of $53.42 and a 12 month high of $103.80.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Tuesday, July 28th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.81). Precision Drilling had a negative net margin of 1.68% and a positive return on equity of 2.11%. The business had revenue of $319.15 million during the quarter, compared to the consensus estimate of $310.70 million. On average, equities analysts expect that Precision Drilling will post 4.53 EPS for the current year.

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.