Stock analysts at DA Davidson started coverage on shares of Precision Drilling Corp. (NYSE:PDS) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Jefferies Group raised shares of Precision Drilling Corp. from an “underperform” rating to a “hold” rating and raised their target price for the company from $4.00 to $4.50 in a research note on Tuesday, September 6th. TD Securities reaffirmed a “buy” rating and set a $8.50 target price (down from $9.50) on shares of Precision Drilling Corp. in a research note on Tuesday, July 26th. Deutsche Bank AG set a $5.00 target price on shares of Precision Drilling Corp. and gave the company a “hold” rating in a research note on Sunday, July 24th. Zacks Investment Research cut shares of Precision Drilling Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, July 23rd. Finally, Scotiabank reaffirmed an “underperform” rating and set a $6.00 target price (up from $3.50) on shares of Precision Drilling Corp. in a research note on Tuesday, July 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.47.

Precision Drilling Corp. (NYSE:PDS) opened at 3.77 on Thursday. The company’s market capitalization is $1.11 billion. The stock’s 50 day moving average is $4.36 and its 200 day moving average is $4.58. Precision Drilling Corp. has a 52 week low of $2.43 and a 52 week high of $6.08.

Precision Drilling Corp. (NYSE:PDS) last posted its earnings results on Thursday, July 21st. The company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. The company earned $164 million during the quarter, compared to analysts’ expectations of $172.98 million. Precision Drilling Corp. had a negative net margin of 37.17% and a negative return on equity of 5.54%. Precision Drilling Corp.’s quarterly revenue was down 51.0% on a year-over-year basis. During the same period last year, the company posted ($0.10) earnings per share. On average, equities research analysts expect that Precision Drilling Corp. will post ($0.47) earnings per share for the current year.

A number of large investors have recently made changes to their positions in PDS. BlackRock Institutional Trust Company N.A. raised its stake in shares of Precision Drilling Corp. by 8.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 35,896 shares of the company’s stock worth $190,000 after buying an additional 2,667 shares during the last quarter. Guardian Capital Advisors LP raised its stake in shares of Precision Drilling Corp. by 0.8% in the second quarter. Guardian Capital Advisors LP now owns 510,580 shares of the company’s stock worth $2,631,000 after buying an additional 4,294 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Precision Drilling Corp. by 14.1% in the second quarter. Shell Asset Management Co. now owns 34,700 shares of the company’s stock worth $238,000 after buying an additional 4,300 shares during the last quarter. Foundation Resource Management Inc. raised its stake in shares of Precision Drilling Corp. by 1.2% in the second quarter. Foundation Resource Management Inc. now owns 581,060 shares of the company’s stock worth $3,080,000 after buying an additional 7,121 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Precision Drilling Corp. by 28.6% in the second quarter. Bank of New York Mellon Corp now owns 69,323 shares of the company’s stock worth $367,000 after buying an additional 15,403 shares during the last quarter. Institutional investors own 72.90% of the company’s stock.

Precision Drilling Corp. Company Profile

Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. It operates through two segments: Contract Drilling Services, and Completion and Production Services.

5 Day Chart for NYSE:PDS

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