Precision Drilling Corporation (NYSE:PDS) (TSE:PD) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.

PDS has been the subject of several other research reports. Raymond James Financial, Inc. raised shares of Precision Drilling Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 26th. Citigroup Inc. reaffirmed an “outperform” rating on shares of Precision Drilling Corporation in a research note on Wednesday, April 26th. Jefferies Group LLC lowered their target price on shares of Precision Drilling Corporation from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. Morgan Stanley downgraded shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $9.00 to $4.50 in a research note on Wednesday, June 21st. Finally, Wolfe Research downgraded shares of Precision Drilling Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $6.32.

Precision Drilling Corporation (PDS) traded up 12.29% during trading on Wednesday, reaching $3.29. 3,894,227 shares of the company’s stock traded hands. The company’s market cap is $964.75 million. Precision Drilling Corporation has a 12 month low of $2.89 and a 12 month high of $6.25. The firm’s 50 day moving average is $3.32 and its 200 day moving average is $4.43.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last issued its earnings results on Monday, April 24th. The oil and gas company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.05. Precision Drilling Corporation had a negative net margin of 16.02% and a negative return on equity of 8.10%. The firm had revenue of $346.80 million during the quarter, compared to the consensus estimate of $345.06 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The business’s quarterly revenue was up 14.9% on a year-over-year basis. Analysts anticipate that Precision Drilling Corporation will post ($0.35) EPS for the current year.

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Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new stake in shares of Precision Drilling Corporation during the first quarter worth approximately $102,000. Cipher Capital LP purchased a new stake in shares of Precision Drilling Corporation during the first quarter worth approximately $120,000. Comerica Bank boosted its stake in shares of Precision Drilling Corporation by 8.2% in the fourth quarter. Comerica Bank now owns 34,183 shares of the oil and gas company’s stock worth $186,000 after buying an additional 2,586 shares in the last quarter. Princeton Alpha Management LP boosted its stake in shares of Precision Drilling Corporation by 18.3% in the first quarter. Princeton Alpha Management LP now owns 37,809 shares of the oil and gas company’s stock worth $178,000 after buying an additional 5,861 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Precision Drilling Corporation during the fourth quarter worth approximately $223,000. Hedge funds and other institutional investors own 63.28% 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.

Analyst Recommendations for Precision Drilling Corporation (NYSE:PDS)

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