Brokerages Set Precision Drilling Corporation (NYSE:PDS) PT at $99.00

Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have earned an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $99.00.

PDS has been the subject of a number of research analyst reports. TD Securities reissued a “hold” rating on shares of Precision Drilling in a research note on Thursday, October 23rd. Zacks Research cut Precision Drilling from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Royal Bank Of Canada boosted their price objective on Precision Drilling from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Wall Street Zen downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Precision Drilling in a research note on Friday, October 31st.

Institutional Investors Weigh In On Precision Drilling

Several institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its holdings in Precision Drilling by 52.3% during the 3rd quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 408 shares in the last quarter. Creative Planning boosted its position in shares of Precision Drilling by 6.2% during the third quarter. Creative Planning now owns 8,503 shares of the oil and gas company’s stock worth $479,000 after buying an additional 496 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Precision Drilling by 4.7% during the third quarter. Mackenzie Financial Corp now owns 14,930 shares of the oil and gas company’s stock worth $841,000 after buying an additional 672 shares in the last quarter. Signaturefd LLC raised its position in Precision Drilling by 52.4% in the 2nd quarter. Signaturefd LLC now owns 2,230 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 767 shares during the last quarter. Finally, Quarry LP acquired a new stake in Precision Drilling in the 3rd quarter valued at approximately $54,000. 48.86% of the stock is owned by institutional investors.

Precision Drilling Stock Down 0.1%

Shares of NYSE:PDS opened at $73.91 on Friday. The company has a 50 day moving average price of $67.20 and a two-hundred day moving average price of $59.75. 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 company has a market capitalization of $955.67 million, a PE ratio of 27.48 and a beta of 1.00. Precision Drilling has a 52 week low of $36.20 and a 52 week high of $76.59.

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

About Precision Drilling

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.