Precision Drilling Corporation (PDS) Lifted to Sell at BidaskClub
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Tuesday.
PDS has been the subject of several other reports. Raymond James Financial, Inc. raised Precision Drilling Corporation from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 26th. Citigroup Inc. restated an “outperform” rating on shares of Precision Drilling Corporation in a research report on Wednesday, April 26th. Jefferies Group LLC dropped their target price on Precision Drilling Corporation from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, May 3rd. Wolfe Research downgraded Precision Drilling Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 6th. Finally, Zacks Investment Research downgraded Precision Drilling Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $7.01.
Precision Drilling Corporation (PDS) traded up 1.94% during mid-day trading on Tuesday, reaching $3.67. The company had a trading volume of 2,700,308 shares. Precision Drilling Corporation has a one year low of $3.28 and a one year high of $6.25. The stock’s market capitalization is $1.08 billion. The company’s 50-day moving average is $3.75 and its 200-day moving average is $4.83.
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Monday, April 24th. The oil and gas company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.05. Precision Drilling Corporation had a negative return on equity of 8.10% and a negative net margin of 16.02%. The business had revenue of $346.80 million during the quarter, compared to analyst estimates of $345.06 million. During the same period in the prior year, the company earned ($0.07) earnings per share. Precision Drilling Corporation’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that Precision Drilling Corporation will post ($0.31) earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in the stock. Dalton Greiner Hartman Maher & Co. increased its stake in Precision Drilling Corporation by 86.7% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 5,307,967 shares of the oil and gas company’s stock worth $25,054,000 after buying an additional 2,465,322 shares during the last quarter. Bank of Montreal Can increased its stake in Precision Drilling Corporation by 35.6% in the first quarter. Bank of Montreal Can now owns 1,560,334 shares of the oil and gas company’s stock worth $7,365,000 after buying an additional 409,616 shares during the last quarter. Creative Planning increased its stake in Precision Drilling Corporation by 2,814.8% in the first quarter. Creative Planning now owns 146,468 shares of the oil and gas company’s stock worth $691,000 after buying an additional 141,443 shares during the last quarter. Norges Bank purchased a new stake in Precision Drilling Corporation during the fourth quarter worth $22,327,000. Finally, AQR Capital Management LLC purchased a new stake in Precision Drilling Corporation during the fourth quarter worth $223,000. Institutional investors and hedge funds own 63.34% of the company’s stock.
Precision Drilling Corporation Company Profile
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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