Precision Drilling Corp. (NYSE:PDS)‘s stock had its “buy” rating reiterated by equities researchers at TD Securities in a report issued on Tuesday. They currently have a $8.50 price objective on the stock, down from their prior price objective of $9.50. TD Securities’ target price would indicate a potential upside of 91.44% from the stock’s previous close.
Several hedge funds have recently made changes to their positions in the company. Shell Asset Management Co. increased its stake in shares of Precision Drilling Corp. by 14.1% in the second quarter. Shell Asset Management Co. now owns 34,700 shares of the company’s stock worth $238,000 after buying an additional 4,300 shares in the last quarter. CIBC World Markets Inc. increased its stake in shares of Precision Drilling Corp. by 11.4% in the second quarter. CIBC World Markets Inc. now owns 393,407 shares of the company’s stock worth $2,085,000 after buying an additional 40,363 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Precision Drilling Corp. during the second quarter worth about $4,017,000. Foundation Resource Management Inc. increased its stake in shares of Precision Drilling Corp. by 1.2% in the second quarter. Foundation Resource Management Inc. now owns 581,060 shares of the company’s stock worth $3,080,000 after buying an additional 7,121 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Precision Drilling Corp. by 55.2% in the first quarter. Envestnet Asset Management Inc. now owns 55,576 shares of the company’s stock worth $233,000 after buying an additional 19,776 shares in the last quarter.
Shares of Precision Drilling Corp. (NYSE:PDS) traded up 0.91% during mid-day trading on Tuesday, reaching $4.44. The company’s stock had a trading volume of 1,075,695 shares. Precision Drilling Corp. has a one year low of $2.43 and a one year high of $6.08. The firm’s 50 day moving average is $5.07 and its 200 day moving average is $4.27. The firm’s market cap is $1.30 billion.
PDS has been the subject of several other research reports. Clarkson Capital restated a “buy” rating on shares of Precision Drilling Corp. in a research report on Friday, April 15th. Royal Bank Of Canada restated an “outperform” rating and set a $6.50 price target on shares of Precision Drilling Corp. in a research report on Tuesday, April 26th. Scotiabank downgraded shares of Precision Drilling Corp. from a “sector perform” rating to a “sell” rating in a research report on Thursday, March 31st. Morgan Stanley upped their price target on shares of Precision Drilling Corp. from $3.50 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 19th. Finally, Zacks Investment Research upgraded shares of Precision Drilling Corp. from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Tuesday, April 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Precision Drilling Corp. has a consensus rating of “Hold” and an average target price of $5.43.
Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. It operates through two segments: Contract Drilling Services, and Completion and Production Services.
