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

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Precision Drilling Corporation (NYSE:PDS - Get Free Report) TSE: PD has received a consensus rating of "Buy" from the five brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $87.00.

Several brokerages have recently commented on PDS. Piper Sandler reissued an "overweight" rating and set a $74.00 price objective (up previously from $72.00) on shares of Precision Drilling in a report on Thursday. Royal Bank Of Canada lifted their target price on shares of Precision Drilling from $89.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Zacks Research raised shares of Precision Drilling from a "hold" rating to a "strong-buy" rating in a research note on Friday.

Precision Drilling Stock Up 0.6%

Shares of NYSE PDS opened at $54.33 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.33. The company has a market cap of $718.08 million, a P/E ratio of 11.44 and a beta of 1.15. Precision Drilling has a 52 week low of $36.20 and a 52 week high of $75.19. The business has a 50-day simple moving average of $51.51 and a two-hundred day simple moving average of $48.00.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last announced its quarterly earnings results on Tuesday, July 29th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.79. Precision Drilling had a net margin of 5.67% and a return on equity of 6.21%. The firm had revenue of $299.14 million for the quarter, compared to the consensus estimate of $435.47 million. Research analysts anticipate that Precision Drilling will post 7.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Precision Drilling by 91.7% during the 4th quarter. JPMorgan Chase & Co. now owns 28,691 shares of the oil and gas company's stock valued at $1,752,000 after purchasing an additional 13,722 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Precision Drilling by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 7,285 shares of the oil and gas company's stock worth $450,000 after buying an additional 418 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Precision Drilling by 246.5% in the 4th quarter. Russell Investments Group Ltd. now owns 6,373 shares of the oil and gas company's stock valued at $390,000 after acquiring an additional 4,534 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Precision Drilling during the 4th quarter valued at about $2,492,000. Finally, Dimensional Fund Advisors LP grew its position in Precision Drilling by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 265,254 shares of the oil and gas company's stock worth $16,198,000 after acquiring an additional 29,612 shares during the last quarter. 48.86% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.