Precision Drilling Corporation (NYSE:PDS) (TSE:PD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, July 28th.
According to Zacks, “Precision Drilling Corporation is an oilfield services company. The Company provides contract drilling, well servicing and strategic support services to the oil and gas industry in North America and internationally. It provides land drilling, directional drilling, turnkey drilling, camp and catering services, procures and distributes oilfield supplies. It also offers service rigs for well completion and workover services, snubbing services and wastewater treatment services, tubulars, well control equipment, wellsite accommodations. Precision Drilling Corporation is headquartered in Calgary, Canada. “
Other research analysts have also issued research reports about the company. Jefferies Group LLC upgraded Precision Drilling Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Tuesday, April 11th. BidaskClub lowered Precision Drilling Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Cowen and Company reiterated a “buy” rating and issued a $5.00 price target on shares of Precision Drilling Corporation in a research report on Tuesday, July 11th. Raymond James Financial, Inc. upgraded Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, UBS AG upgraded Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $6.21.
Shares of Precision Drilling Corporation (NYSE PDS) traded up 0.69% on Friday, reaching $2.93. The company’s stock had a trading volume of 3,555,686 shares. Precision Drilling Corporation has a 52-week low of $2.85 and a 52-week high of $6.25. The firm’s 50 day moving average is $3.14 and its 200-day moving average is $4.22. The stock’s market cap is $859.19 million.
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.07. The firm had revenue of $275.52 million during the quarter, compared to analyst estimates of $271.33 million. Precision Drilling Corporation had a negative return on equity of 7.10% and a negative net margin of 12.38%. The business’s quarterly revenue was up 68.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) earnings per share. On average, equities research analysts forecast that Precision Drilling Corporation will post ($0.31) EPS for the current year.
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Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in Precision Drilling Corporation during the first quarter valued at $102,000. Cipher Capital LP bought a new stake in Precision Drilling Corporation during the first quarter valued at $120,000. Comerica Bank increased its position in shares of Precision Drilling Corporation by 8.2% in the fourth quarter. Comerica Bank now owns 34,183 shares of the oil and gas company’s stock worth $186,000 after buying an additional 2,586 shares during the period. Princeton Alpha Management LP increased its position in shares of Precision Drilling Corporation by 18.3% in the first quarter. Princeton Alpha Management LP now owns 37,809 shares of the oil and gas company’s stock worth $178,000 after buying an additional 5,861 shares during the period. Finally, AQR Capital Management LLC acquired a new position in shares of Precision Drilling Corporation during the fourth quarter worth approximately $223,000. 63.17% of the stock is owned by hedge funds and other institutional investors.
Precision Drilling Corporation Company Profile
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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