Precision Drilling Corp. (PDS) Trading 1.7% Higher
Precision Drilling Corp. (NYSE:PDS) shares traded up 1.7% during mid-day trading on Tuesday . The company traded as high as $4.31 and last traded at $4.19, with a volume of 813,244 shares changing hands. The stock had previously closed at $4.12.
A number of research analysts recently issued reports on the stock. TD Securities restated a “buy” rating and set a $8.50 price objective (down previously from $9.50) on shares of Precision Drilling Corp. in a report on Tuesday, July 26th. Jefferies Group restated a “sell” rating and set a $4.00 price objective on shares of Precision Drilling Corp. in a report on Tuesday, July 26th. Deutsche Bank AG set a $5.00 price objective on shares of Precision Drilling Corp. and gave the company a “hold” rating in a report on Sunday, July 24th. Zacks Investment Research cut shares of Precision Drilling Corp. from a “buy” rating to a “hold” rating in a report on Saturday, July 23rd. Finally, Scotiabank restated an “underperform” rating and set a $6.00 price objective (up previously from $3.50) on shares of Precision Drilling Corp. in a report on Tuesday, July 19th. Three equities 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. Precision Drilling Corp. presently has an average rating of “Hold” and an average price target of $5.43.
The stock has a 50 day moving average of $4.87 and a 200-day moving average of $4.32. The stock’s market cap is $1.35 billion.
Precision Drilling Corp. (NYSE:PDS) last announced its earnings results on Thursday, July 21st. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. During the same quarter in the prior year, the company earned ($0.10) EPS. The business had revenue of $164 million for the quarter, compared to the consensus estimate of $172.98 million. Precision Drilling Corp.’s revenue was down 51.0% compared to the same quarter last year. On average, equities research analysts anticipate that Precision Drilling Corp. will post ($0.49) EPS for the current fiscal year.
A hedge fund recently raised its stake in Precision Drilling Corp. stock. Employees Retirement System of Texas raised its position 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. 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 approximately 0.36% of Precision Drilling Corp. worth $4,192,000 as of its most recent SEC filing.
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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