Precision Drilling Corporation (NYSE:PDS) (TSE:PD) has been given a consensus rating of “Buy” by the twenty ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $6.06.
A number of equities analysts have issued reports on PDS shares. Zacks Investment Research cut Precision Drilling Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Jefferies Group LLC set a $6.00 target price on Precision Drilling Corporation and gave the stock a “buy” rating in a report on Tuesday, June 6th. Cowen and Company restated a “buy” rating and set a $5.00 target price on shares of Precision Drilling Corporation in a report on Tuesday, July 11th. ValuEngine cut Precision Drilling Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, BidaskClub cut Precision Drilling Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th.
A number of hedge funds have recently bought and sold shares of PDS. Franklin Resources Inc. grew its stake in Precision Drilling Corporation by 44.6% in the second quarter. Franklin Resources Inc. now owns 44,803,597 shares of the oil and gas company’s stock valued at $153,112,000 after purchasing an additional 13,815,928 shares in the last quarter. FMR LLC grew its stake in Precision Drilling Corporation by 22.1% in the second quarter. FMR LLC now owns 16,603,054 shares of the oil and gas company’s stock valued at $56,719,000 after purchasing an additional 3,007,124 shares in the last quarter. Point72 Europe London LLP bought a new position in Precision Drilling Corporation in the first quarter valued at approximately $7,078,000. Systematic Financial Management LP grew its stake in Precision Drilling Corporation by 7.7% in the first quarter. Systematic Financial Management LP now owns 15,391,797 shares of the oil and gas company’s stock valued at $72,649,000 after purchasing an additional 1,099,574 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new position in Precision Drilling Corporation in the first quarter valued at approximately $3,066,000. Hedge funds and other institutional investors own 61.45% of the company’s stock.
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Shares of Precision Drilling Corporation (NYSE:PDS) remained flat at $2.73 during midday trading on Friday. The stock had a trading volume of 3,604,240 shares. Precision Drilling Corporation has a one year low of $2.38 and a one year high of $6.25. The stock has a 50-day moving average price of $2.78 and a 200 day moving average price of $3.68. The stock’s market capitalization is $800.54 million.
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last issued its earnings results on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.07. Precision Drilling Corporation had a negative return on equity of 7.10% and a negative net margin of 12.38%. The firm had revenue of $275.52 million for the quarter, compared to analysts’ expectations of $271.33 million. During the same quarter last year, the business earned ($0.20) earnings per share. The company’s revenue was up 68.0% compared to the same quarter last year. Equities analysts predict that Precision Drilling Corporation will post ($0.33) EPS for the current fiscal year.
About Precision Drilling Corporation
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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