Precision Drilling Corp. (PDS) Shares Down 3.3%
Precision Drilling Corp. (NYSE:PDS) traded down 3.3% during trading on Friday . The company traded as low as $4.45 and last traded at $4.45, with a volume of 470,306 shares traded. The stock had previously closed at $4.60.
A number of equities research analysts have commented on the stock. Deutsche Bank AG set a $5.00 target price on shares of Precision Drilling Corp. and gave the stock a “hold” rating in a research report on Sunday, July 24th. Zacks Investment Research downgraded shares of Precision Drilling Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, July 23rd. TD Securities reaffirmed a “buy” rating and issued a $8.50 target price (down previously from $9.50) on shares of Precision Drilling Corp. in a research report on Tuesday, July 26th. Cowen and Company lifted their target price on shares of Precision Drilling Corp. from $4.40 to $5.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. Finally, Jefferies Group reaffirmed a “sell” rating and issued a $4.00 target price on shares of Precision Drilling Corp. in a research report on Tuesday, July 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.43.
The company has a 50 day moving average of $4.69 and a 200 day moving average of $4.43. The company’s market cap is $1.30 billion.
Precision Drilling Corp. (NYSE:PDS) last posted its quarterly earnings results on Thursday, July 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.04. The company earned $164 million during the quarter, compared to analysts’ expectations of $172.98 million. During the same period in the prior year, the business posted ($0.10) EPS. The company’s quarterly revenue was down 51.0% on a year-over-year basis. On average, equities analysts forecast that Precision Drilling Corp. will post ($0.49) earnings per share for the current year.
A hedge fund recently raised its stake in Precision Drilling Corp. stock. Employees Retirement System of Texas increased its position in Precision Drilling Corp. (NYSE:PDS) by 392.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 0.36% of Precision Drilling Corp. worth $4,192,000 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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