Precision Drilling (NYSE:PDS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

PDS has been the topic of a number of other reports. Zacks Research raised shares of Precision Drilling from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. TD Securities raised shares of Precision Drilling from a “hold” rating to a “buy” rating and upped their price target for the company from $116.00 to $150.00 in a report on Tuesday, October 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Precision Drilling in a report on Wednesday, October 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Precision Drilling in a research report on Friday, September 18th. Finally, National Bank Financial raised shares of Precision Drilling from a “sector perform” rating to an “outperform” rating in a research note on Monday, October 26th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Precision Drilling Stock Performance

NYSE PDS opened at $97.76 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.29. The company has a market capitalization of $1.23 billion, a P/E ratio of -181.03 and a beta of 0.95. Precision Drilling has a 1-year low of $56.10 and a 1-year high of $112.03. The business has a 50 day moving average price of $88.82 and a 200 day moving average price of $87.87.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in shares of Precision Drilling during the third quarter worth about $32,000. Group One Trading LLC purchased a new position in shares of Precision Drilling during the first quarter valued at approximately $81,000. Plato Investment Management Ltd purchased a new position in shares of Precision Drilling during the second quarter valued at approximately $190,000. Signaturefd LLC boosted its position in Precision Drilling by 4.7% during the third quarter. Signaturefd LLC now owns 3,054 shares of the oil and gas company’s stock worth $246,000 after acquiring an additional 137 shares during the last quarter. Finally, Pictet Asset Management Holding SA acquired a new stake in Precision Drilling during the first quarter worth approximately $300,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation is an oilfield services company headquartered in Calgary, Alberta. The company provides contract drilling and related services to oil and natural gas exploration and production companies, with operations serving customers primarily in Canada and the United States as well as selected international markets.

Its Contract Drilling Services segment operates land-based drilling rigs and provides associated equipment, personnel and technical expertise. Precision also offers directional drilling and other technologies designed to support the construction of complex horizontal and extended-reach wells.

Through its Completion and Production Services business, the company provides well servicing, snubbing, rental equipment, camp and catering services, and other support activities used during well completion, maintenance and production.