Precision Drilling (NYSE:PDS) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Precision Drilling (NYSE:PDS – Free Report) (TSE:PD) from a hold rating to a buy rating in a research report report published on Saturday.

Other equities research analysts have also issued research reports about the stock. TD Securities restated a “hold” rating on shares of Precision Drilling in a research note on Thursday, February 12th. Zacks Research upgraded Precision Drilling from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Piper Sandler reissued an “overweight” rating and issued a $105.00 price objective (up from $81.00) on shares of Precision Drilling in a report on Tuesday, February 17th. Loop Capital set a $122.00 target price on Precision Drilling in a research report on Monday, March 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $124.00 target price (up from $119.00) on shares of Precision Drilling in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Precision Drilling has an average rating of “Moderate Buy” and a consensus target price of $117.00.

View Our Latest Research Report on Precision Drilling

Precision Drilling Stock Performance

Shares of PDS opened at $92.87 on Friday. The firm has a fifty day moving average of $83.03 and a 200-day moving average of $68.67. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -238.11 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.62. Precision Drilling has a 1 year low of $36.20 and a 1 year high of $94.86.

Precision Drilling (NYSE:PDS – Get Free Report) (TSE:PD) last released its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.26. The business had revenue of $349.37 million for the quarter, compared to analysts’ expectations of $489.80 million. Precision Drilling had a net margin of 0.05% and a return on equity of 4.12%. As a group, equities analysts anticipate that Precision Drilling will post 7.1 earnings per share for the current year.

Hedge Funds Weigh In On Precision Drilling

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PDS. Cubist Systematic Strategies LLC bought a new stake in shares of Precision Drilling in the 1st quarter worth $45,000. Quarry LP bought a new position in Precision Drilling during the third quarter valued at about $54,000. Raymond James Financial Inc. bought a new position in Precision Drilling during the second quarter valued at about $57,000. Wolverine Asset Management LLC grew its holdings in Precision Drilling by 112.9% during the fourth quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 7,000 shares during the period. Finally, US Bancorp DE raised its position in Precision Drilling by 52.3% in the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 408 shares in the last quarter. 48.86% of the stock is owned by institutional investors.

About Precision Drilling

(Get Free Report)

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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