Jefferies Financial Group Lowers Precision Drilling (PDS) to Hold

Precision Drilling (NYSE:PDS) (TSE:PD) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports.

Several other analysts have also issued reports on the stock. Raymond James upgraded shares of Precision Drilling from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, January 30th. Citigroup upgraded shares of Precision Drilling from a “neutral” rating to a “buy” rating in a research report on Monday, November 19th. National Bank Financial started coverage on shares of Precision Drilling in a research report on Friday, December 21st. They issued an “outperform” rating on the stock. Scotiabank lowered shares of Precision Drilling from a “sector perform” rating to an “underperform” rating in a research report on Thursday, November 29th. Finally, BMO Capital Markets restated a “buy” rating on shares of Precision Drilling in a research report on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $4.40.

NYSE PDS opened at $2.38 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.73 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $702.13 million, a price-to-earnings ratio of -9.15 and a beta of 2.29. Precision Drilling has a 52-week low of $1.62 and a 52-week high of $4.14.

Institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in shares of Precision Drilling during the 4th quarter valued at about $40,000. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Precision Drilling by 174.7% during the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 31,450 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 20,000 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of Precision Drilling during the 3rd quarter valued at about $128,000. D. E. Shaw & Co. Inc. boosted its position in shares of Precision Drilling by 455.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 82,639 shares of the oil and gas company’s stock valued at $144,000 after acquiring an additional 67,773 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Precision Drilling by 230.9% during the 4th quarter. Jane Street Group LLC now owns 88,596 shares of the oil and gas company’s stock valued at $154,000 after acquiring an additional 61,822 shares in the last quarter. Institutional investors and hedge funds own 46.04% of the company’s stock.

About Precision Drilling

Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

Featured Story: Outstanding Shares and The Effect on Share Price

The Fly

Analyst Recommendations for Precision Drilling (NYSE:PDS)

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



Leave a Reply