Precision Drilling (NYSE:PDS) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a buy rating to a hold rating in a research report report published on Sunday morning.

Several other equities analysts also recently weighed in on PDS. Weiss Ratings reissued a “hold (c)” rating on shares of Precision Drilling in a research report on Wednesday, October 8th. Zacks Research downgraded Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Royal Bank Of Canada boosted their target price on Precision Drilling from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Piper Sandler reissued an “overweight” rating and set a $74.00 target price (up previously from $72.00) on shares of Precision Drilling in a research report on Thursday, August 14th. Finally, TD Securities reaffirmed a “hold” rating on shares of Precision Drilling in a research report on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

Precision Drilling Stock Performance

NYSE PDS opened at $58.06 on Friday. The company has a market cap of $764.68 million, a P/E ratio of 21.58 and a beta of 1.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.42 and a current ratio of 1.58. The business’s 50 day moving average price is $56.91 and its 200-day moving average price is $50.98. Precision Drilling has a fifty-two week low of $36.20 and a fifty-two week high of $67.35.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Wednesday, October 22nd. The oil and gas company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.20 by ($1.57). The company had revenue of $331.90 million for the quarter, compared to the consensus estimate of $471.38 million. Precision Drilling had a net margin of 3.17% and a return on equity of 3.44%. Sell-side analysts predict that Precision Drilling will post 7.1 earnings per share for the current year.

Hedge Funds Weigh In On Precision Drilling

Hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new position in Precision Drilling in the 1st quarter valued at $45,000. Raymond James Financial Inc. bought a new position in shares of Precision Drilling during the 2nd quarter worth $57,000. Signaturefd LLC grew its position in shares of Precision Drilling by 52.4% during the 2nd quarter. Signaturefd LLC now owns 2,230 shares of the oil and gas company’s stock worth $105,000 after buying an additional 767 shares in the last quarter. Aristides Capital LLC bought a new position in shares of Precision Drilling during the 1st quarter worth $252,000. Finally, Vident Advisory LLC grew its position in shares of Precision Drilling by 8.2% during the 1st quarter. Vident Advisory LLC now owns 6,766 shares of the oil and gas company’s stock worth $315,000 after buying an additional 512 shares in the last quarter. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.