Precision Drilling Corporation (NYSE:PDS) (TSE:PD) has received a consensus recommendation of “Buy” from the nineteen brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $6.28.

A number of equities research analysts have issued reports on the company. UBS AG upgraded Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Piper Jaffray Companies restated a “hold” rating and set a $3.25 price target on shares of Precision Drilling Corporation in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Precision Drilling Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and set a $4.50 price target (down from $6.00) on shares of Precision Drilling Corporation in a research note on Wednesday, August 2nd. Finally, BidaskClub upgraded Precision Drilling Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th.

Precision Drilling Corporation (NYSE:PDS) traded down 3.925% during midday trading on Tuesday, reaching $2.815. 2,027,831 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $3.08 and its 200-day moving average price is $4.08. The stock’s market cap is $825.47 million. Precision Drilling Corporation has a one year low of $2.80 and a one year high of $6.25.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last released its quarterly earnings results on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.07. The business had revenue of $275.52 million during the quarter, compared to the consensus estimate of $271.33 million. Precision Drilling Corporation had a negative return on equity of 7.10% and a negative net margin of 12.38%. The business’s quarterly revenue was up 68.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) EPS. Equities analysts predict that Precision Drilling Corporation will post ($0.31) earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of PDS. Marshall Wace North America L.P. bought a new position in Precision Drilling Corporation during the first quarter worth $306,000. Airain ltd bought a new position in Precision Drilling Corporation during the first quarter worth $935,000. Systematic Financial Management LP boosted its position in Precision Drilling Corporation by 7.7% in the first quarter. Systematic Financial Management LP now owns 15,391,797 shares of the oil and gas company’s stock worth $72,649,000 after buying an additional 1,099,574 shares during the last quarter. Wellington Management Group LLP boosted its position in Precision Drilling Corporation by 21.9% in the first quarter. Wellington Management Group LLP now owns 3,221,710 shares of the oil and gas company’s stock worth $15,194,000 after buying an additional 578,133 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Precision Drilling Corporation by 0.8% in the first quarter. Legal & General Group Plc now owns 455,424 shares of the oil and gas company’s stock worth $2,146,000 after buying an additional 3,566 shares during the last quarter. 63.21% of the stock is currently owned by hedge funds and other institutional investors.

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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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