Precision Drilling (NYSE:PDS) Price Target Raised to $101.00

Precision Drilling (NYSE:PDS) (TSE:PD) had its price objective raised by Piper Sandler from $81.00 to $101.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s price objective suggests a potential upside of 42.01% from the stock’s previous close.

Separately, StockNews.com downgraded Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $118.50.

Precision Drilling Trading Up 1.7 %

Precision Drilling stock opened at $71.12 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.59 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $67.23 and its two-hundred day simple moving average is $60.93. Precision Drilling has a 12 month low of $41.56 and a 12 month high of $77.21. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 6.25 and a beta of 2.08.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.12). The company had revenue of $391.51 million during the quarter, compared to the consensus estimate of $399.44 million. Precision Drilling had a return on equity of 10.10% and a net margin of 12.00%. As a group, equities analysts predict that Precision Drilling will post 6.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PDS. Signaturefd LLC increased its position in Precision Drilling by 41.3% in the third quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock worth $62,000 after buying an additional 269 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Precision Drilling in the fourth quarter worth about $88,000. Barometer Capital Management Inc. purchased a new stake in Precision Drilling in the third quarter worth about $148,000. Alberta Investment Management Corp purchased a new stake in Precision Drilling in the fourth quarter worth about $229,000. Finally, Quantbot Technologies LP purchased a new stake in Precision Drilling in the third quarter worth about $243,000. Institutional investors 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.