Brokerages Set Precision Drilling Co. (NYSE:PDS) Price Target at $44.00

Shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) have been assigned a consensus rating of “Buy” from the five brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $48.00.

Several research firms have weighed in on PDS. StockNews.com downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Piper Sandler raised their price target on shares of Precision Drilling from $81.00 to $101.00 and gave the company an “overweight” rating in a research report on Monday.

Precision Drilling Price Performance

PDS stock opened at $72.35 on Friday. Precision Drilling has a 1 year low of $41.56 and a 1 year high of $77.21. The stock has a market capitalization of $1.05 billion, a PE ratio of 6.36 and a beta of 2.08. The company’s 50-day moving average is $67.23 and its 200-day moving average is $60.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.71 and a quick ratio of 1.59.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.12). The firm had revenue of $391.51 million during the quarter, compared to the consensus estimate of $399.44 million. Precision Drilling had a return on equity of 10.10% and a net margin of 12.00%. Equities research analysts expect that Precision Drilling will post 6.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Precision Drilling

Several large investors have recently made changes to their positions in PDS. Signaturefd LLC grew its holdings in Precision Drilling by 41.3% during 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 during the period. Russell Investments Group Ltd. purchased a new stake in Precision Drilling in the 4th quarter worth about $88,000. Barometer Capital Management Inc. bought a new stake in Precision Drilling in the 3rd quarter valued at about $148,000. Quantbot Technologies LP purchased a new stake in Precision Drilling during the third quarter valued at about $243,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Precision Drilling by 41.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,725 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 1,084 shares during the period. 48.86% of the stock is owned by hedge funds and other institutional investors.

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.