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Shares of Precision Drilling Corp (NYSE:PDS) were the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 620,237 shares, a drop of 40.1% from the July 15th total of 1,036,210 shares, Analyst Ratings.Net reports. Based on an average daily trading volume, of 1,665,939 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the company’s stock are short sold.

Several analysts have recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Precision Drilling Corp from $15.00 to $16.00 in a research note on Tuesday, July 29th. They now have an “outperform” rating on the stock. Separately, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Precision Drilling Corp in a research note on Friday, July 25th. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Precision Drilling Corp in a research note on Friday, July 25th. They now have a $18.00 price target on the stock, up previously from $15.00. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $17.33.

Shares of Precision Drilling Corp (NYSE:PDS) opened at 12.12 on Wednesday. Precision Drilling Corp has a one year low of $8.51 and a one year high of $14.65. The stock has a 50-day moving average of $13.1 and a 200-day moving average of $12.28. The company has a market cap of $3.547 billion and a P/E ratio of 20.17.

Precision Drilling Corp (NYSE:PDS) last issued its quarterly earnings data on Thursday, July 24th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.01) by $0.01. The company had revenue of $475.00 million for the quarter, compared to the consensus estimate of $428.61 million. The company’s quarterly revenue was up 25.4% on a year-over-year basis. Analysts expect that Precision Drilling Corp will post $0.80 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, August 20th. Investors of record on Friday, August 8th will be paid a dividend of $0.0559 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Wednesday, August 6th.

Precision Drilling Corporation (NYSE:PDS) is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada and the United States.

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