Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have been assigned an average rating of “Buy” from the nineteen research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $6.44.

Several research firms have recently weighed in on PDS. Jefferies Group LLC raised shares of Precision Drilling Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Tuesday, April 11th. Deutsche Bank AG increased their price objective on shares of Precision Drilling Corporation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Cowen and Company reaffirmed a “buy” rating and set a $5.00 price objective on shares of Precision Drilling Corporation in a research report on Tuesday, July 11th. Morgan Stanley cut shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $9.00 to $4.50 in a research report on Wednesday, June 21st. Finally, Zacks Investment Research cut shares of Precision Drilling Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 14th.

Several hedge funds have recently modified their holdings of PDS. Quantbot Technologies LP acquired a new stake in Precision Drilling Corporation during the first quarter worth approximately $102,000. Cipher Capital LP acquired a new stake in Precision Drilling Corporation during the first quarter worth approximately $120,000. Comerica Bank boosted its stake in 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 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 acquired a new stake in Precision Drilling Corporation during the fourth quarter worth approximately $223,000. 63.28% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Precision Drilling Corporation (NYSE:PDS) traded down 3.323% on Friday, hitting $3.055. The stock had a trading volume of 1,094,139 shares. 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 price is $3.30 and its 200 day moving average price is $4.42. The firm’s market cap is $895.84 million.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Monday, April 24th. The oil and gas company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.05. The company had revenue of $346.80 million during the quarter, compared to the consensus estimate of $345.06 million. Precision Drilling Corporation had a negative net margin of 16.02% and a negative return on equity of 8.10%. Precision Drilling Corporation’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) EPS. Analysts anticipate that Precision Drilling Corporation will post ($0.36) EPS for the current fiscal year.

About Precision Drilling Corporation

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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