Precision Drilling Corporation (NYSE:PDS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One research 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 $98.00.

PDS has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Precision Drilling in a research note on Friday, October 31st. Royal Bank Of Canada lifted their target price on shares of 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 Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Zacks Research lowered Precision Drilling from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. Finally, Atb Cap Markets raised Precision Drilling to a “strong-buy” rating in a report on Thursday, October 30th.

Precision Drilling Price Performance

Shares of Precision Drilling stock opened at $57.89 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.58 and a quick ratio of 1.42. The company has a market cap of $762.60 million, a PE ratio of 21.52 and a beta of 1.15. The firm has a fifty day moving average price of $57.30 and a two-hundred day moving average price of $51.88. 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). Precision Drilling had a net margin of 3.17% and a return on equity of 3.44%. The company had revenue of $331.90 million during the quarter, compared to the consensus estimate of $471.38 million. Analysts expect that Precision Drilling will post 7.1 EPS for the current year.

Institutional Investors Weigh In On Precision Drilling

Several institutional investors and hedge funds have recently made changes to their positions in the company. National Bank of Canada FI increased its position in shares of Precision Drilling by 1.4% during the 1st quarter. National Bank of Canada FI now owns 739,842 shares of the oil and gas company’s stock worth $34,093,000 after purchasing an additional 10,216 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Precision Drilling during the first quarter worth approximately $22,637,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Precision Drilling by 275.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 387,598 shares of the oil and gas company’s stock valued at $18,338,000 after acquiring an additional 284,384 shares during the last quarter. Aegis Financial Corp raised its stake in shares of Precision Drilling by 10.2% in the second quarter. Aegis Financial Corp now owns 215,396 shares of the oil and gas company’s stock valued at $10,182,000 after acquiring an additional 19,891 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Precision Drilling in the 1st quarter worth approximately $6,813,000. Institutional investors and hedge funds 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.