Precision Drilling Corp. (PDS) Trading Down 3.7%
Precision Drilling Corp. (NYSE:PDS) traded down 3.7% during trading on Monday . The stock traded as low as $4.05 and last traded at $4.11, with a volume of 621,184 shares changing hands. The stock had previously closed at $4.27.
Several equities research analysts have recently commented 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 price target for the company in a report on Thursday, June 30th. Clarkson Capital restated a “buy” rating on shares of Precision Drilling Corp. in a report 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 report on Wednesday, April 20th. Jefferies Group boosted their price target on shares of Precision Drilling Corp. from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Monday, July 11th. Finally, Morgan Stanley boosted their price target on shares of Precision Drilling Corp. from $3.50 to $6.00 and gave the company an “overweight” rating in a report on Tuesday, April 19th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Precision Drilling Corp. presently has a consensus rating of “Hold” and an average target price of $5.43.
The firm’s market cap is $1.21 billion. The company’s 50 day moving average is $4.91 and its 200-day moving average is $4.31.
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 the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. The business earned $164 million during the quarter, compared to analysts’ expectations of $172.98 million. During the same period in the previous year, the business posted ($0.10) EPS. The company’s revenue for the quarter was down 51.0% compared to the same quarter last year. On average, analysts predict that Precision Drilling Corp. will post ($0.50) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Precision Drilling Corp. stock. Employees Retirement System of Texas raised its stake in shares of Precision Drilling Corp. (NYSE:PDS) by 392.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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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