Precision Drilling (NYSE:PDS) Share Price Passes Above 200-Day Moving Average of $62.19

Shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $62.19 and traded as high as $71.27. Precision Drilling shares last traded at $70.79, with a volume of 28,293 shares.

Analyst Ratings Changes

A number of brokerages have commented on PDS. Piper Sandler boosted their price objective on shares of Precision Drilling from $81.00 to $101.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. StockNews.com lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Precision Drilling presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.50.

Precision Drilling Trading Up 2.4 %

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 6.22 and a beta of 2.08. The business’s 50 day moving average price is $70.21 and its 200-day moving average price is $62.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.59 and a current ratio of 1.71.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). The company had revenue of $391.51 million during the quarter, compared to analyst estimates of $399.44 million. Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. Equities analysts expect that Precision Drilling Co. will post 6.21 EPS for the current year.

Institutional Investors Weigh In On Precision Drilling

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP bought a new stake in shares of Precision Drilling during the 3rd quarter valued at about $4,638,000. MQS Management LLC bought a new stake in shares of Precision Drilling during the 3rd quarter valued at about $297,000. Ninepoint Partners LP bought a new stake in shares of Precision Drilling during the 4th quarter valued at about $74,649,000. Greatmark Investment Partners Inc. grew its position in shares of Precision Drilling by 25.1% during the 4th quarter. Greatmark Investment Partners Inc. now owns 59,627 shares of the oil and gas company’s stock valued at $3,237,000 after buying an additional 11,955 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Precision Drilling by 95.0% during the 3rd quarter. Acadian Asset Management LLC now owns 466,048 shares of the oil and gas company’s stock valued at $31,344,000 after buying an additional 227,077 shares during the last quarter. 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.