Precision Drilling Corporation (NYSE:PDS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have earned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $122.3333.

Several research firms have issued reports on PDS. BMO Capital Markets reissued an “outperform” rating on shares of Precision Drilling in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Precision Drilling in a report on Friday, May 1st. Zacks Research raised Precision Drilling from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. TD Securities reissued a “hold” rating on shares of Precision Drilling in a report on Friday, May 1st. Finally, Loop Capital set a $122.00 price target on Precision Drilling in a report on Monday, March 2nd.

Precision Drilling Stock Down 1.9%

Precision Drilling stock opened at $98.31 on Thursday. The stock has a market cap of $1.27 billion, a PE ratio of -104.59 and a beta of 0.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.52 and a current ratio of 1.70. Precision Drilling has a one year low of $40.39 and a one year high of $103.80. The stock has a fifty day moving average of $94.21 and a 200 day moving average of $80.48.

Institutional Trading of Precision Drilling

Several hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. grew its holdings in Precision Drilling by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,171 shares of the oil and gas company’s stock valued at $607,000 after purchasing an additional 128 shares during the period. Amova Asset Management Americas Inc. grew its holdings in Precision Drilling by 2.1% during the first quarter. Amova Asset Management Americas Inc. now owns 6,171 shares of the oil and gas company’s stock valued at $606,000 after purchasing an additional 128 shares during the period. State of Wyoming grew its holdings in Precision Drilling by 4.0% during the fourth quarter. State of Wyoming now owns 4,490 shares of the oil and gas company’s stock valued at $323,000 after purchasing an additional 173 shares during the period. SIR Capital Management L.P. grew its holdings in Precision Drilling by 0.4% during the fourth quarter. SIR Capital Management L.P. now owns 56,178 shares of the oil and gas company’s stock valued at $4,031,000 after purchasing an additional 200 shares during the period. Finally, Amundi grew its holdings in Precision Drilling by 6.9% during the first quarter. Amundi now owns 3,095 shares of the oil and gas company’s stock valued at $305,000 after purchasing an additional 201 shares during the period. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.