Precision Drilling Corporation (NYSE:PDS – Get Free Report) (TSE:PD)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $95.87, but opened at $90.33. Precision Drilling shares last traded at $91.3040, with a volume of 18,071 shares traded.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. TD Securities reaffirmed a “hold” rating on shares of Precision Drilling in a research report on Friday, May 1st. Royal Bank Of Canada upped their target price on Precision Drilling from $124.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, March 23rd. Weiss Ratings raised Precision Drilling from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 5th. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 target price (up from $81.00) on shares of Precision Drilling in a research report on Tuesday, February 17th. Finally, Wall Street Zen lowered Precision Drilling from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.33.
Get Our Latest Stock Analysis on PDS
Precision Drilling Stock Performance
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Precision Drilling by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,171 shares of the oil and gas company’s stock valued at $607,000 after buying an additional 128 shares during the last quarter. Amova Asset Management Americas Inc. boosted its position in shares of Precision Drilling by 2.1% during the first quarter. Amova Asset Management Americas Inc. now owns 6,171 shares of the oil and gas company’s stock valued at $606,000 after buying an additional 128 shares during the last quarter. State of Wyoming boosted its position in shares of Precision Drilling by 4.0% during the fourth quarter. State of Wyoming now owns 4,490 shares of the oil and gas company’s stock valued at $323,000 after buying an additional 173 shares during the last quarter. SIR Capital Management L.P. boosted its position in shares of Precision Drilling by 0.4% during the fourth quarter. SIR Capital Management L.P. now owns 56,178 shares of the oil and gas company’s stock valued at $4,031,000 after buying an additional 200 shares during the last quarter. Finally, Amundi boosted its position in shares of Precision Drilling by 6.9% during the first quarter. Amundi now owns 3,095 shares of the oil and gas company’s stock valued at $305,000 after buying an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 48.86% of the company’s stock.
Precision Drilling Company Profile
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.
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