Precision Drilling Co. (NYSE:PDS) Given Consensus Recommendation of "Buy" by Analysts

Shares of Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD have been assigned a consensus recommendation of "Buy" from the five analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $61.67.

Separately, Piper Sandler decreased their price target on Precision Drilling from $100.00 to $81.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 20th.

Precision Drilling Stock Performance

PDS traded down $1.00 on Tuesday, hitting $75.52. The company's stock had a trading volume of 79,805 shares, compared to its average volume of 83,878. Precision Drilling has a 12 month low of $41.56 and a 12 month high of $77.21. The firm has a market cap of $1.09 billion, a P/E ratio of 5.54 and a beta of 2.11. 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 company's 50 day simple moving average is $64.28 and its 200-day simple moving average is $60.09.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its quarterly earnings results on Tuesday, February 6th. The oil and gas company reported $3.45 EPS for the quarter, topping 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. Analysts forecast that Precision Drilling will post 6.82 EPS for the current year.

Hedge Funds Weigh In On Precision Drilling

A number of institutional investors have recently added to or reduced their stakes in PDS. Great West Life Assurance Co. Can bought a new stake in shares of Precision Drilling during the 1st quarter worth $27,000. Deutsche Bank AG bought a new stake in Precision Drilling during the fourth quarter worth about $35,000. Barclays PLC boosted its holdings in shares of Precision Drilling by 150.0% in the 4th quarter. Barclays PLC now owns 500 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 300 shares in the last quarter. Wells Fargo & Company MN bought a new position in shares of Precision Drilling during the 4th quarter valued at about $38,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Precision Drilling by 599.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,042 shares of the oil and gas company's stock valued at $53,000 after buying an additional 893 shares in the last quarter. 48.86% of the stock is currently owned by institutional investors.

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.