Precision Drilling (NYSE:PDS) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a buy rating to a hold rating in a research report released on Friday morning.

Separately, Piper Sandler reduced their target price on shares of Precision Drilling from $100.00 to $81.00 and set an overweight rating for the company in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $115.17.

Precision Drilling Trading Up 5.1 %

PDS stock opened at $72.30 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.30. The company has a fifty day moving average price of $66.23 and a two-hundred day moving average price of $60.62. Precision Drilling has a one year low of $41.56 and a one year high of $77.21. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 6.35 and a beta of 2.11.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). Precision Drilling had a return on equity of 10.44% and a net margin of 12.00%. The company had revenue of $391.51 million for the quarter, compared to the consensus estimate of $399.44 million. Equities analysts anticipate that Precision Drilling will post 6.38 EPS for the current year.

Institutional Investors Weigh In On Precision Drilling

A number of institutional investors have recently modified their holdings of PDS. Signaturefd LLC raised its stake in Precision Drilling by 41.3% in the third quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 269 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Precision Drilling in the fourth quarter valued at about $88,000. Barometer Capital Management Inc. acquired a new position in Precision Drilling in the third quarter valued at about $148,000. Alberta Investment Management Corp acquired a new position in Precision Drilling during the fourth quarter worth about $229,000. Finally, Quantbot Technologies LP acquired a new position in Precision Drilling during the third quarter worth about $243,000. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.