Precision Drilling Corporation (PDS) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have been given a consensus recommendation of “Hold” by the nineteen analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $6.19.
PDS has been the topic of a number of recent analyst reports. BidaskClub raised Precision Drilling Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Jefferies Group LLC set a $6.00 price target on Precision Drilling Corporation and gave the company a “buy” rating in a report on Tuesday, June 6th. Wolfe Research downgraded Precision Drilling Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 6th. Piper Jaffray Companies cut shares of Precision Drilling Corporation from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $5.00 to $3.25 in a research report on Thursday, June 29th. Finally, Morgan Stanley cut shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $9.00 to $4.50 in a research report on Wednesday, June 21st.
Several large investors have recently made changes to their positions in the business. Quantbot Technologies LP bought a new position in shares of Precision Drilling Corporation during the first quarter worth approximately $102,000. Cipher Capital LP acquired a new stake in shares of Precision Drilling Corporation in the first quarter valued at approximately $120,000. Tower Research Capital LLC TRC raised its position in shares of Precision Drilling Corporation by 200.1% in 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 buying an additional 19,819 shares in the last quarter. Pacad Investment Ltd. raised its position in shares of Precision Drilling Corporation by 81.2% in the second quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 14,700 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Precision Drilling Corporation in the second quarter valued at approximately $158,000. Hedge funds and other institutional investors own 61.43% of the company’s stock.
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Shares of Precision Drilling Corporation (NYSE:PDS) traded down 1.4555% during mid-day trading on Wednesday, reaching $2.8775. 641,868 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $2.78 and its 200-day moving average is $3.46. The stock’s market cap is $843.79 million. Precision Drilling Corporation has a 52-week low of $2.38 and a 52-week high of $6.25.
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The firm had revenue of $275.52 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 68.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.20) earnings per share. On average, equities analysts expect that Precision Drilling Corporation will post ($0.32) EPS for the current year.
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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