Precision Drilling Corp. (PDS) Trading Up 3.8%
Precision Drilling Corp. (NYSE:PDS) shares were up 3.8% during mid-day trading 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 issued reports on PDS shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $6.50 price target on shares of Precision Drilling Corp. in a report on Tuesday, April 26th. Credit Suisse Group AG downgraded shares of Precision Drilling Corp. from a “neutral” rating to an “underperform” rating and set a $3.00 price target for the company. in a report on Wednesday, June 1st. Raymond James Financial Inc. raised shares of Precision Drilling Corp. from an “underperform” rating to a “market perform” rating in a research note on Tuesday, May 31st. Zacks Investment Research cut shares of Precision Drilling Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. Finally, Jefferies Group boosted their price objective on shares of Precision Drilling Corp. from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Monday, July 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Precision Drilling Corp. has an average rating of “Hold” and an average target price of $5.43.
The company’s market cap is $1.30 billion. The firm’s 50-day moving average is $4.69 and its 200 day moving average is $4.43.
Precision Drilling Corp. (NYSE:PDS) last posted its quarterly earnings data on Thursday, July 21st. The company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. The company had revenue of $164 million for the quarter, compared to analysts’ expectations of $172.98 million. The business’s quarterly revenue was down 51.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) EPS. Equities research analysts forecast that Precision Drilling Corp. will post ($0.49) EPS for the current fiscal year.
An institutional investor recently raised its position in Precision Drilling Corp. stock. Connor Clark & Lunn Investment Management Ltd. raised its position in Precision Drilling Corp. (NYSE:PDS) by 468.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,325,403 shares of the company’s stock after buying an additional 3,564,325 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.48% of Precision Drilling Corp. worth $17,033,000 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.