Brokerages Set Precision Drilling Corporation (NYSE:PDS) PT at $122.33

Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $122.3333.

A number of brokerages have recently commented on PDS. BMO Capital Markets reissued an “outperform” rating on shares of Precision Drilling in a research note on Thursday, April 30th. TD Securities reaffirmed a “hold” rating on shares of Precision Drilling in a research note on Friday, May 1st. Wall Street Zen lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings raised shares of Precision Drilling from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 5th. Finally, Loop Capital set a $122.00 price target on shares of Precision Drilling in a research report on Monday, March 2nd.

Institutional Trading of Precision Drilling

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. increased its position in Precision Drilling by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,171 shares of the oil and gas company’s stock valued at $607,000 after buying an additional 128 shares in the last quarter. Amova Asset Management Americas Inc. grew its stake in Precision Drilling by 2.1% in the first quarter. Amova Asset Management Americas Inc. now owns 6,171 shares of the oil and gas company’s stock valued at $606,000 after acquiring an additional 128 shares during the period. State of Wyoming increased its holdings in shares of Precision Drilling by 4.0% during the fourth quarter. State of Wyoming now owns 4,490 shares of the oil and gas company’s stock valued at $323,000 after acquiring an additional 173 shares in the last quarter. SIR Capital Management L.P. increased its holdings in shares of Precision Drilling by 0.4% during the fourth quarter. SIR Capital Management L.P. now owns 56,178 shares of the oil and gas company’s stock valued at $4,031,000 after acquiring an additional 200 shares in the last quarter. Finally, Amundi raised its position in shares of Precision Drilling by 6.9% during the first quarter. Amundi now owns 3,095 shares of the oil and gas company’s stock worth $305,000 after purchasing an additional 201 shares during the period. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Precision Drilling Stock Down 0.3%

Shares of PDS opened at $83.49 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.52 and a current ratio of 1.70. Precision Drilling has a 52 week low of $45.97 and a 52 week high of $103.80. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -88.81 and a beta of 0.76. The stock has a fifty day moving average of $92.52 and a 200-day moving average of $85.68.

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.