Precision Drilling Corporation (PDS) Stock Rating Reaffirmed by Royal Bank Of Canada
Precision Drilling Corporation (NYSE:PDS) (TSE:PD)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a report released on Friday. They currently have a $6.00 price objective on the oil and gas company’s stock, down from their prior price objective of $7.00. Royal Bank Of Canada’s target price would suggest a potential upside of 116.61% from the stock’s current price.
PDS has been the subject of a number of other research reports. Zacks Investment Research cut shares of Precision Drilling Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine cut shares of Precision Drilling Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Cowen and Company restated a “buy” rating and issued a $5.00 price objective on shares of Precision Drilling Corporation in a research note on Tuesday, July 11th. Raymond James Financial, Inc. upgraded shares of Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Finally, BidaskClub cut shares of Precision Drilling Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $6.18.
Precision Drilling Corporation (PDS) traded down 2.81% during midday trading on Friday, hitting $2.77. 2,112,746 shares of the stock traded hands. The stock’s market cap is $812.27 million. Precision Drilling Corporation has a 1-year low of $2.38 and a 1-year high of $6.25. The company has a 50-day moving average of $2.79 and a 200-day moving average of $3.45.
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. 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 prior year, the company posted ($0.20) EPS. The business’s revenue was up 68.0% on a year-over-year basis. On average, equities analysts expect that Precision Drilling Corporation will post ($0.32) EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new stake in shares of Precision Drilling Corporation during the 1st quarter worth about $306,000. Wellington Management Group LLP grew its holdings in Precision Drilling Corporation by 21.9% during the 1st quarter. Wellington Management Group LLP now owns 3,221,710 shares of the oil and gas company’s stock worth $15,194,000 after acquiring an additional 578,133 shares during the last quarter. Legal & General Group Plc grew its holdings in Precision Drilling Corporation by 0.8% during the 1st quarter. Legal & General Group Plc now owns 455,424 shares of the oil and gas company’s stock worth $2,146,000 after acquiring an additional 3,566 shares during the last quarter. AGF Investments Inc. grew its holdings in Precision Drilling Corporation by 13.4% during the 2nd quarter. AGF Investments Inc. now owns 1,537,291 shares of the oil and gas company’s stock worth $5,254,000 after acquiring an additional 181,654 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Precision Drilling Corporation by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 5,660,730 shares of the oil and gas company’s stock worth $26,719,000 after acquiring an additional 340,141 shares during the last quarter. Institutional investors and hedge funds own 61.43% 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.
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