Precision Drilling (NYSE:PDS) Sets New 52-Week High at $74.39

Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD's share price reached a new 52-week high during trading on Wednesday . The company traded as high as $74.39 and last traded at $74.36, with a volume of 40547 shares traded. The stock had previously closed at $70.69.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price objective on Precision Drilling from $100.00 to $81.00 and set an "overweight" rating on the stock in a report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $118.00.

Precision Drilling Trading Up 7.6 %

The company has a quick ratio of 1.30, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 5.58 and a beta of 2.11. The business has a 50 day moving average price of $62.84 and a 200-day moving average price of $59.85.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $1.36. Precision Drilling had a return on equity of 14.81% and a net margin of 14.87%. The firm had revenue of $372.34 million during the quarter, compared to analyst estimates of $355.78 million. As a group, research analysts expect that Precision Drilling Co. will post 6.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PDS. Great West Life Assurance Co. Can bought a new stake in shares of Precision Drilling in the 1st quarter worth approximately $27,000. Deutsche Bank AG bought a new stake in Precision Drilling during the 4th quarter valued at $35,000. Barclays PLC raised its stake in Precision Drilling by 150.0% during the 4th quarter. Barclays PLC now owns 500 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 300 shares in the last quarter. Wells Fargo & Company MN bought a new stake in Precision Drilling during the 4th quarter valued at $38,000. Finally, Signaturefd LLC raised its stake in Precision Drilling by 41.3% during the 3rd quarter. Signaturefd LLC now owns 921 shares of the oil and gas company's stock valued at $62,000 after acquiring an additional 269 shares in the last quarter. Institutional investors and hedge funds own 48.86% of the company's stock.

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.