Precision Drilling Corporation (NYSE:PDS) (TSE:PD) has received a consensus rating of “Buy” from the twenty research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.28.

Several equities research analysts recently issued reports on the company. ValuEngine cut Precision Drilling Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Piper Jaffray Companies reiterated a “hold” rating and issued a $3.25 price target on shares of Precision Drilling Corporation in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $4.50 price target (down from $6.00) on shares of Precision Drilling Corporation in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Precision Drilling Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Finally, BidaskClub cut Precision Drilling Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th.

Shares of Precision Drilling Corporation (PDS) traded down 4.01% during trading on Friday, hitting $2.63. The stock had a trading volume of 2,905,476 shares. The stock’s 50-day moving average is $2.79 and its 200-day moving average is $3.72. The stock’s market capitalization is $771.22 million. Precision Drilling Corporation has a 12-month low of $2.38 and a 12-month high of $6.25.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Precision Drilling Corporation had a negative return on equity of 7.10% and a negative net margin of 12.38%. The company had revenue of $275.52 million during the quarter, compared to analysts’ expectations of $271.33 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The business’s revenue was up 68.0% on a year-over-year basis. Analysts predict that Precision Drilling Corporation will post ($0.33) EPS for the current fiscal year.

WARNING: “Precision Drilling Corporation (PDS) Given Average Rating of “Buy” by Brokerages” was posted by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was illegally copied and republished in violation of international trademark & copyright law. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/09/09/precision-drilling-corporation-pds-given-average-rating-of-buy-by-brokerages.html.

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in Precision Drilling Corporation during the first quarter valued at approximately $102,000. Pacad Investment Ltd. raised its position in Precision Drilling Corporation by 81.2% during the second quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock valued at $112,000 after purchasing an additional 14,700 shares in the last quarter. Cipher Capital LP acquired a new position in Precision Drilling Corporation during the first quarter valued at approximately $120,000. Tower Research Capital LLC TRC raised its position in Precision Drilling Corporation by 200.1% during the second quarter. Tower Research Capital LLC TRC now owns 29,724 shares of the oil and gas company’s stock valued at $132,000 after purchasing an additional 19,819 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Precision Drilling Corporation during the second quarter valued at approximately $158,000. Institutional investors and hedge funds own 61.45% 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)

Receive News & Ratings for Precision Drilling Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling Corporation and related companies with MarketBeat.com's FREE daily email newsletter.