Zacks Research cut shares of Precision Drilling (NYSE:PDS - Free Report) TSE: PD from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.
Several other research analysts have also recently issued reports on PDS. Royal Bank Of Canada raised their target price on shares of Precision Drilling from $89.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Piper Sandler reiterated an "overweight" rating and issued a $74.00 price target (up previously from $72.00) on shares of Precision Drilling in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $87.00.
Read Our Latest Stock Analysis on PDS
Precision Drilling Stock Performance
NYSE PDS traded down $0.93 during trading hours on Monday, reaching $57.02. 92,348 shares of the company were exchanged, compared to its average volume of 73,551. Precision Drilling has a 1 year low of $36.20 and a 1 year high of $67.40. The business's 50 day simple moving average is $54.98 and its 200-day simple moving average is $48.58. 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 stock has a market capitalization of $751.52 million, a P/E ratio of 12.00 and a beta of 1.15.
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 EPS for the quarter, beating 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 company had revenue of $299.14 million for the quarter, compared to analysts' expectations of $435.47 million. On average, equities research analysts expect that Precision Drilling will post 7.1 earnings per share for the current year.
Institutional Trading of Precision Drilling
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in Precision Drilling by 31.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,163 shares of the oil and gas company's stock worth $520,000 after buying an additional 2,686 shares during the period. Quotient Wealth Partners LLC bought a new position in shares of Precision Drilling during the 1st quarter worth $3,192,000. Intact Investment Management Inc. bought a new stake in Precision Drilling during the first quarter valued at about $2,594,000. Russell Investments Group Ltd. boosted its position in Precision Drilling by 157.6% during the first quarter. Russell Investments Group Ltd. now owns 16,418 shares of the oil and gas company's stock valued at $763,000 after purchasing an additional 10,045 shares in the last quarter. Finally, Greatmark Investment Partners Inc. boosted its position in Precision Drilling by 15.9% during the first quarter. Greatmark Investment Partners Inc. now owns 106,189 shares of the oil and gas company's stock valued at $4,951,000 after purchasing an additional 14,588 shares in the last quarter. Hedge funds and other institutional investors own 48.86% of the company's stock.
Precision Drilling Company Profile
(
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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.
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