Precision Drilling (NYSE:PDS) PT Raised to $101.00

Precision Drilling (NYSE:PDS - Free Report) TSE: PD had its price target boosted by Piper Sandler from $81.00 to $101.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company's stock.

Separately, StockNews.com lowered Precision Drilling from a buy rating to a hold rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $118.50.

Precision Drilling Stock Performance

NYSE:PDS traded up $1.23 during trading hours on Monday, hitting $72.35. 59,133 shares of the company traded hands, compared to its average volume of 85,985. The firm has a 50-day moving average of $67.23 and a 200 day moving average of $60.93. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 6.36 and a beta of 2.08. The company has a current ratio of 1.71, a quick ratio of 1.59 and a debt-to-equity ratio of 0.57. Precision Drilling has a twelve month low of $41.56 and a twelve month high of $77.21.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last released its earnings results 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 firm had revenue of $391.51 million for the quarter, compared to analyst estimates of $399.44 million. Precision Drilling had a return on equity of 10.10% and a net margin of 12.00%. On average, analysts forecast that Precision Drilling will post 6.49 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Precision Drilling by 41.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,725 shares of the oil and gas company's stock valued at $251,000 after purchasing an additional 1,084 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Precision Drilling by 117.2% in the third quarter. TD Asset Management Inc now owns 104,956 shares of the oil and gas company's stock valued at $7,065,000 after acquiring an additional 56,623 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Precision Drilling by 2.7% in the 3rd quarter. CIBC Asset Management Inc now owns 12,165 shares of the oil and gas company's stock worth $818,000 after acquiring an additional 324 shares in the last quarter. Signaturefd LLC grew its position in Precision Drilling by 41.3% during the 3rd quarter. Signaturefd LLC now owns 921 shares of the oil and gas company's stock worth $62,000 after acquiring an additional 269 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Precision Drilling during the 3rd quarter valued at $243,000. 48.86% of the stock is owned by institutional investors.

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.