Shares of Precision Drilling Corp. (NYSE:PDS) saw unusually-high trading volume on Thursday . Approximately 1,346,833 shares were traded during trading, a decline of 23% from the previous session’s volume of 1,758,726 shares.The stock last traded at $5.11 and had previously closed at $5.18.

PDS has been the topic of several recent research reports. Zacks Investment Research raised shares of Precision Drilling Corp. from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Tuesday, April 12th. Cowen and Company raised their target price on shares of Precision Drilling Corp. from $4.40 to $5.00 and gave the stock an “outperform” rating in a report on Wednesday, April 27th. Morgan Stanley raised their target price on shares of Precision Drilling Corp. from $6.00 to $6.50 and gave the stock an “overweight” rating in a report on Monday, April 25th. Credit Suisse Group AG cut shares of Precision Drilling Corp. from a “neutral” rating to an “underperform” rating and set a $3.00 target price on the stock. in a report on Wednesday, June 1st. Finally, TD Securities cut shares of Precision Drilling Corp. from an “action list buy” rating to a “buy” rating in a report on Monday, March 21st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Precision Drilling Corp. currently has an average rating of “Hold” and a consensus price target of $5.03.

The company has a 50-day moving average price of $5.02 and a 200 day moving average price of $4.19. The firm’s market cap is $1.49 billion.

Precision Drilling Corp. (NYSE:PDS) last posted its quarterly earnings results on Monday, April 25th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.09. The business earned $302 million during the quarter, compared to the consensus estimate of $295.78 million. During the same period last year, the firm earned $0.08 EPS. The business’s revenue for the quarter was down 41.1% on a year-over-year basis. Equities research analysts forecast that Precision Drilling Corp. will post ($0.67) EPS for the current year.

A hedge fund recently bought a new stake in Precision Drilling Corp. stock. Oceanic Investment Management LTD purchased a new position in Precision Drilling Corp. (NYSE:PDS) during the fourth quarter, Holdings Channel reports. The firm purchased 736,477 shares of the company’s stock, valued at approximately $2,902,000. Precision Drilling Corp. comprises 0.5% of Oceanic Investment Management LTD’s holdings, making the stock its 29th largest position. Oceanic Investment Management LTD owned about 0.25% of Precision Drilling Corp. at the end of the most recent reporting period.

Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. It operates through two segments: Contract Drilling Services, and Completion and Production Services.

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