Precision Drilling Co. (NYSE:PDS) Given Consensus Recommendation of “Buy” by Analysts

Precision Drilling Co. (NYSE:PDS) (TSE:PD) has been given an average recommendation of “Buy” by the five analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $44.00.

Separately, Piper Sandler reduced their target price on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th.

Precision Drilling Stock Down 2.4 %

Shares of NYSE PDS opened at $68.95 on Tuesday. Precision Drilling has a 52-week low of $41.56 and a 52-week high of $77.21. The firm has a fifty day moving average of $65.22 and a 200-day moving average of $60.20. The stock has a market capitalization of $998.33 million, a PE ratio of 5.06 and a beta of 2.11. The company has a quick ratio of 1.30, a current ratio of 1.40 and a debt-to-equity ratio of 0.58.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $1.36. Precision Drilling had a net margin of 14.87% and a return on equity of 14.81%. The company had revenue of $372.34 million during the quarter, compared to analysts’ expectations of $355.78 million. On average, analysts anticipate that Precision Drilling will post 6.82 EPS for the current year.

Hedge Funds Weigh In On Precision Drilling

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Precision Drilling by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,138 shares of the oil and gas company’s stock worth $393,000 after buying an additional 175 shares in the last quarter. Swiss National Bank increased its position in shares of Precision Drilling by 0.7% in the 3rd quarter. Swiss National Bank now owns 30,000 shares of the oil and gas company’s stock worth $2,027,000 after purchasing an additional 200 shares during the last quarter. Signaturefd LLC increased its position in shares of Precision Drilling by 41.3% in the 3rd quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 269 shares during the last quarter. Barclays PLC increased its position in shares of Precision Drilling by 150.0% in the 4th quarter. Barclays PLC now owns 500 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 300 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Precision Drilling by 2.7% in the 3rd quarter. CIBC Asset Management Inc now owns 12,165 shares of the oil and gas company’s stock worth $818,000 after purchasing an additional 324 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.