Precision Drilling Corp. (PDS) Stock Price Down 3.7%
Shares of Precision Drilling Corp. (NYSE:PDS) traded down 3.7% on Monday . The company traded as low as $4.05 and last traded at $4.11, with a volume of 621,184 shares traded. The stock had previously closed at $4.27.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Precision Drilling Corp. from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Thursday, June 30th. Clarkson Capital restated a “buy” rating on shares of Precision Drilling Corp. in a research note on Friday, April 15th. Raymond James Financial Inc. lowered shares of Precision Drilling Corp. from a “market perform” rating to an “underperform” rating in a research note on Wednesday, April 20th. Jefferies Group increased their price target on shares of Precision Drilling Corp. from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Monday, July 11th. Finally, Morgan Stanley increased their price target on shares of Precision Drilling Corp. from $3.50 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, April 19th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.43.
The firm has a 50 day moving average of $4.89 and a 200 day moving average of $4.32. The company’s market capitalization is $1.32 billion.
Precision Drilling Corp. (NYSE:PDS) last posted its quarterly earnings data on Thursday, July 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04. The business had revenue of $164 million for the quarter, compared to analysts’ expectations of $172.98 million. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. Precision Drilling Corp.’s revenue for the quarter was down 51.0% compared to the same quarter last year. On average, analysts anticipate that Precision Drilling Corp. will post ($0.49) EPS for the current year.
A hedge fund recently raised its stake in Precision Drilling Corp. stock. Employees Retirement System of Texas raised its stake in Precision Drilling Corp. (NYSE:PDS) by 392.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,064,000 shares of the company’s stock after buying an additional 848,000 shares during the period. Employees Retirement System of Texas owned about 0.36% of Precision Drilling Corp. worth $4,192,000 as of its most recent filing with the SEC.
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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