Precision Drilling (NYSE:PDS) Stock Crosses Above 200-Day Moving Average of $61.55

Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $61.55 and traded as high as $71.39. Precision Drilling shares last traded at $71.26, with a volume of 59,504 shares trading hands.

Wall Street Analyst Weigh In

PDS has been the topic of several analyst reports. Piper Sandler upped their price target on shares of Precision Drilling from $81.00 to $101.00 and gave the company an "overweight" rating in a report on Monday, May 6th. StockNews.com lowered shares of Precision Drilling from a "buy" rating to a "hold" rating in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Precision Drilling currently has an average rating of "Moderate Buy" and an average target price of $118.50.

Precision Drilling Stock Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.71 and a quick ratio of 1.59. The company has a market cap of $1.03 billion, a PE ratio of 6.26 and a beta of 2.08. The business has a fifty day simple moving average of $68.89 and a two-hundred day simple moving average of $61.55.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.12). Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. The firm had revenue of $391.51 million for the quarter, compared to analysts' expectations of $399.44 million. Research analysts anticipate that Precision Drilling Co. will post 6.21 earnings per share for the current year.

Institutional Investors Weigh In On Precision Drilling

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ninepoint Partners LP purchased a new position in shares of Precision Drilling during the 4th quarter valued at about $74,649,000. Acadian Asset Management LLC lifted its holdings in Precision Drilling by 95.0% in the third quarter. Acadian Asset Management LLC now owns 466,048 shares of the oil and gas company's stock valued at $31,344,000 after acquiring an additional 227,077 shares during the period. American Century Companies Inc. boosted its position in Precision Drilling by 1,501.2% in the 3rd quarter. American Century Companies Inc. now owns 223,116 shares of the oil and gas company's stock worth $14,950,000 after purchasing an additional 209,182 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Precision Drilling by 29.0% during the 1st quarter. National Bank of Canada FI now owns 711,047 shares of the oil and gas company's stock worth $50,886,000 after purchasing an additional 159,871 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Precision Drilling by 172.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,400 shares of the oil and gas company's stock worth $12,623,000 after purchasing an additional 119,200 shares during the period. 48.86% of the stock is currently owned by institutional investors and hedge funds.

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.