Precision Drilling Co. (NYSE:PDS) Given Consensus Recommendation of “Buy” by Brokerages

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

A number of analysts have recently commented on PDS shares. StockNews.com lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Piper Sandler upped their price target on shares of Precision Drilling from $81.00 to $101.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th.

Precision Drilling Stock Down 1.4 %

Shares of NYSE:PDS opened at $66.57 on Friday. Precision Drilling has a one year low of $44.92 and a one year high of $77.21. The company has a 50 day moving average of $69.64 and a 200-day moving average of $63.70. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.71 and a quick ratio of 1.59. The stock has a market cap of $951.95 million, a price-to-earnings ratio of 5.85 and a beta of 2.01.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data 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 firm had revenue of $391.51 million for 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%. On average, sell-side analysts forecast that Precision Drilling will post 6.21 earnings per share for the current year.

Institutional Investors Weigh In On Precision Drilling

Large investors have recently bought and sold shares of the company. Swiss National Bank lifted its holdings in shares of Precision Drilling by 0.7% in the third quarter. Swiss National Bank now owns 30,000 shares of the oil and gas company’s stock worth $2,027,000 after acquiring an additional 200 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Precision Drilling by 172.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,400 shares of the oil and gas company’s stock worth $12,623,000 after acquiring an additional 119,200 shares during the last quarter. MQS Management LLC bought a new position in shares of Precision Drilling in the third quarter worth about $297,000. Bank of Nova Scotia lifted its holdings in shares of Precision Drilling by 3.5% in the third quarter. Bank of Nova Scotia now owns 26,021 shares of the oil and gas company’s stock worth $1,744,000 after acquiring an additional 881 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new position in shares of Precision Drilling in the third quarter worth about $470,000. 48.86% of the stock is currently owned by institutional investors and hedge funds.

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.