Precision Drilling Corporation (NYSE:PDS – Get Free Report) (TSE:PD) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $122.33.
Several equities research analysts have weighed in on PDS shares. Zacks Research cut Precision Drilling from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Wall Street Zen lowered Precision Drilling from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Precision Drilling in a report on Friday, September 18th.
Read Our Latest Analysis on Precision Drilling
Precision Drilling Price Performance
Precision Drilling (NYSE:PDS – Get Free Report) (TSE:PD) last issued its quarterly earnings results on Tuesday, July 28th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.81). The firm had revenue of $319.15 million for the quarter, compared to the consensus estimate of $310.70 million. Precision Drilling had a positive return on equity of 2.11% and a negative net margin of 1.68%. On average, equities research analysts predict that Precision Drilling will post 4.73 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of PDS. Aegis Financial Corp lifted its holdings in shares of Precision Drilling by 11.4% in the fourth quarter. Aegis Financial Corp now owns 504,059 shares of the oil and gas company’s stock worth $36,221,000 after acquiring an additional 51,700 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Precision Drilling by 67.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 487,434 shares of the oil and gas company’s stock worth $47,957,000 after purchasing an additional 195,598 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Precision Drilling by 24.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 373,936 shares of the oil and gas company’s stock valued at $36,803,000 after purchasing an additional 73,084 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Precision Drilling by 37.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 288,013 shares of the oil and gas company’s stock valued at $28,340,000 after purchasing an additional 77,775 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Precision Drilling by 11,668,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 116,690 shares of the oil and gas company’s stock valued at $8,388,000 after buying an additional 116,689 shares in the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.
Precision Drilling Company Profile
Precision Drilling Corporation is a Canadian oilfield services company that provides contract drilling and well-servicing solutions to oil and natural gas exploration and production companies. The company is headquartered in Calgary, Alberta, and trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol PDS.
Its primary business is contract drilling, including the provision of land-based drilling rigs, crews and related equipment used to construct oil and gas wells.
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