Precision Drilling Corp. (PDS) Trading 3.8% Higher
Precision Drilling Corp. (NYSE:PDS) shares were up 3.8% on Thursday . The stock traded as high as $4.72 and last traded at $4.65, with a volume of 976,266 shares. The stock had previously closed at $4.48.
Several research analysts have recently weighed in on PDS shares. Raymond James Financial Inc. downgraded Precision Drilling Corp. from a “market perform” rating to an “underperform” rating in a research note on Wednesday, April 20th. Morgan Stanley increased their price target on Precision Drilling Corp. from $6.00 to $6.50 and gave the stock an “overweight” rating in a research note on Monday, April 25th. Royal Bank Of Canada reiterated an “outperform” rating and set a $6.50 price target on shares of Precision Drilling Corp. in a research note on Tuesday, April 26th. Cowen and Company increased their price target on Precision Drilling Corp. from $4.40 to $5.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 27th. Finally, Credit Suisse Group AG downgraded Precision Drilling Corp. from a “neutral” rating to an “underperform” rating and set a $3.00 price target for the company. in a research note on Wednesday, June 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.43.
The stock’s market cap is $1.35 billion. The firm’s 50-day moving average price is $4.74 and its 200 day moving average price is $4.42.
Precision Drilling Corp. (NYSE:PDS) last posted its quarterly earnings data on Thursday, July 21st. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. The firm had revenue of $164 million for the quarter, compared to analysts’ expectations of $172.98 million. During the same quarter last year, the company posted ($0.10) EPS. The firm’s revenue was down 51.0% compared to the same quarter last year. Equities analysts anticipate that Precision Drilling Corp. will post ($0.49) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of PDS. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Precision Drilling Corp. by 468.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,325,403 shares of the company’s stock worth $17,033,000 after buying an additional 3,564,325 shares during the period. Employees Retirement System of Texas raised its stake in Precision Drilling Corp. by 392.6% in the fourth quarter. Employees Retirement System of Texas now owns 1,064,000 shares of the company’s stock valued at $4,192,000 after buying an additional 848,000 shares in the last quarter. Finally, I.G. Investment Management LTD. bought a new stake in Precision Drilling Corp. during the fourth quarter valued at about $1,092,000.
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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