Precision Drilling Corp (NYSE:PDS) Receives Consensus Rating of “Hold” from Analysts

Shares of Precision Drilling Corp (NYSE:PDS) (TSE:PD) have received a consensus rating of “Hold” from the sixteen research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $0.96.

A number of equities research analysts have issued reports on PDS shares. Raymond James lifted their target price on shares of Precision Drilling from $0.90 to $1.00 and gave the company a “market perform” rating in a research note on Thursday. BMO Capital Markets lifted their target price on shares of Precision Drilling from $1.00 to $1.25 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. National Bank Financial lowered shares of Precision Drilling from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Sunday, July 5th. Morgan Stanley reduced their price objective on shares of Precision Drilling from $1.00 to $0.75 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Finally, Zacks Investment Research raised shares of Precision Drilling from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research note on Wednesday.

A number of institutional investors have recently added to or reduced their stakes in the business. Two Sigma Advisers LP increased its holdings in shares of Precision Drilling by 183.2% during the 1st quarter. Two Sigma Advisers LP now owns 1,728,080 shares of the oil and gas company’s stock worth $542,000 after purchasing an additional 1,117,900 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Precision Drilling by 109.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,408,065 shares of the oil and gas company’s stock worth $435,000 after purchasing an additional 736,815 shares during the period. UBS Group AG increased its holdings in shares of Precision Drilling by 32.6% during the 1st quarter. UBS Group AG now owns 97,820 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 24,050 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of Precision Drilling by 323.1% during the 2nd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 130,950 shares of the oil and gas company’s stock worth $99,000 after purchasing an additional 100,000 shares during the period. Finally, Marshall Wace North America L.P. increased its holdings in shares of Precision Drilling by 16.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 315,500 shares of the oil and gas company’s stock worth $240,000 after purchasing an additional 44,500 shares during the period. 28.18% of the stock is owned by hedge funds and other institutional investors.

NYSE PDS traded down $0.01 on Friday, hitting $0.63. 150,242 shares of the stock were exchanged, compared to its average volume of 933,468. Precision Drilling has a 52-week low of $0.27 and a 52-week high of $1.64. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.46 and a quick ratio of 2.27. The company has a market capitalization of $171.87 million, a price-to-earnings ratio of -4.18 and a beta of 3.24. The company’s 50-day moving average price is $0.69 and its two-hundred day moving average price is $0.59.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Thursday, July 23rd. The oil and gas company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Precision Drilling had a negative return on equity of 2.26% and a negative net margin of 4.33%. The firm had revenue of $136.89 million for the quarter, compared to analysts’ expectations of $132.14 million. Equities analysts predict that Precision Drilling will post -0.42 EPS for the current fiscal year.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

Further Reading: How to find the components of the quick ratio

Analyst Recommendations for Precision Drilling (NYSE:PDS)

Receive News & Ratings for Precision Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling and related companies with MarketBeat.com's FREE daily email newsletter.