Precision Drilling Co. (NYSE:PDS) Given Average Recommendation of “Buy” by Analysts

Precision Drilling Co. (NYSE:PDS) (TSE:PD) has been given an average recommendation of “Buy” by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $48.00.

A number of equities research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Precision Drilling from $81.00 to $101.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. StockNews.com lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

Precision Drilling Trading Down 0.1 %

Shares of Precision Drilling stock opened at $70.34 on Friday. The firm has a market cap of $1.01 billion, a PE ratio of 6.18 and a beta of 2.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.71 and a quick ratio of 1.59. Precision Drilling has a 1 year low of $46.29 and a 1 year high of $77.21. The company has a 50 day simple moving average of $69.85 and a two-hundred day simple moving average of $64.33.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). The business had revenue of $391.51 million during the quarter, compared to the consensus estimate of $399.44 million. Precision Drilling had a return on equity of 10.10% and a net margin of 12.00%. Analysts expect that Precision Drilling will post 6.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. National Bank of Canada FI increased its position in Precision Drilling by 29.0% during the 1st quarter. National Bank of Canada FI now owns 711,047 shares of the oil and gas company’s stock valued at $50,886,000 after purchasing an additional 159,871 shares during the period. O Shaughnessy Asset Management LLC increased its position in Precision Drilling by 27.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 29,549 shares of the oil and gas company’s stock valued at $1,989,000 after purchasing an additional 6,328 shares during the period. Aegis Financial Corp purchased a new position in Precision Drilling during the 1st quarter valued at $6,124,000. Swiss National Bank increased its position in Precision Drilling by 6.3% during the 1st quarter. Swiss National Bank now owns 28,600 shares of the oil and gas company’s stock valued at $1,923,000 after purchasing an additional 1,700 shares during the period. Finally, Hartree Partners LP increased its position in Precision Drilling by 113.3% during the 1st quarter. Hartree Partners LP now owns 80,000 shares of the oil and gas company’s stock valued at $5,384,000 after purchasing an additional 42,500 shares during the period. 48.86% of the stock is owned by hedge funds and other institutional investors.

About Precision Drilling

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.