Precision Drilling (NYSE:PDS) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Precision Drilling (NYSE:PDS - Free Report) TSE: PD in a report issued on Tuesday, MarketBeat Ratings reports. The firm issued an overweight rating and a $72.00 price objective on the oil and gas company's stock.

PDS has been the topic of several other research reports. Raymond James Financial lowered shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of Precision Drilling from a "buy" rating to a "hold" rating in a research note on Monday, March 24th.

Precision Drilling Stock Performance

Shares of PDS stock traded up $1.30 during trading hours on Tuesday, hitting $51.48. The company's stock had a trading volume of 129,640 shares, compared to its average volume of 94,899. The company has a 50 day moving average of $47.03 and a 200 day moving average of $49.73. The stock has a market cap of $687.19 million, a PE ratio of 10.23 and a beta of 1.06. The company has a current ratio of 0.91, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. Precision Drilling has a 12-month low of $36.20 and a 12-month high of $79.07.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last released its quarterly earnings data on Wednesday, April 23rd. The oil and gas company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.04). The business had revenue of $345.41 million during the quarter, compared to analysts' expectations of $508.06 million. Precision Drilling had a net margin of 5.84% and a return on equity of 6.51%. On average, sell-side analysts forecast that Precision Drilling will post 7.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in shares of Precision Drilling in the first quarter valued at approximately $45,000. Aquatic Capital Management LLC acquired a new position in Precision Drilling during the 4th quarter worth approximately $71,000. Deutsche Bank AG acquired a new position in Precision Drilling during the 4th quarter worth approximately $85,000. Signaturefd LLC grew its holdings in Precision Drilling by 30.1% during the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock worth $132,000 after acquiring an additional 499 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in Precision Drilling by 1,741.8% during the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company's stock worth $137,000 after acquiring an additional 2,125 shares in the last quarter. Institutional investors and hedge funds own 48.86% of the company's stock.

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.