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

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $122.3333.

Several equities research analysts recently commented on PDS shares. Wall Street Zen downgraded Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. TD Securities reiterated a “hold” rating on shares of Precision Drilling in a report on Friday, May 1st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Precision Drilling in a report on Friday, May 1st. Loop Capital set a $122.00 target price on Precision Drilling in a report on Monday, March 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Precision Drilling in a report on Thursday, April 30th.

Institutional Investors Weigh In On Precision Drilling

Large investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC boosted its holdings in Precision Drilling by 112.9% in the fourth quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 7,000 shares during the last quarter. Group One Trading LLC purchased a new stake in Precision Drilling during the 1st quarter worth approximately $81,000. Quarry LP purchased a new stake in Precision Drilling during the 3rd quarter worth approximately $54,000. Cubist Systematic Strategies LLC purchased a new stake in Precision Drilling during the 1st quarter worth approximately $45,000. Finally, US Bancorp DE increased its holdings in Precision Drilling by 52.3% during the 3rd quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 408 shares during the last quarter. 48.86% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Stock Performance

NYSE:PDS opened at $89.54 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -95.26 and a beta of 0.79. The firm’s fifty day simple moving average is $94.40 and its 200 day simple moving average is $81.73. Precision Drilling has a twelve month low of $42.31 and a twelve month high of $103.80.

Precision Drilling Company Profile

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.