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

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) has received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $117.00.

Several equities analysts have weighed in on PDS shares. Loop Capital set a $122.00 price target on Precision Drilling in a research report on Monday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Precision Drilling in a research note on Thursday, February 12th. Zacks Research upgraded Precision Drilling from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Precision Drilling in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $124.00 target price (up from $119.00) on shares of Precision Drilling in a report on Friday, February 13th.

Precision Drilling Stock Performance

Shares of PDS stock opened at $89.72 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.62. The stock has a market cap of $1.16 billion, a PE ratio of -230.05 and a beta of 1.01. Precision Drilling has a 1 year low of $36.20 and a 1 year high of $92.40. The stock has a fifty day moving average price of $80.58 and a 200 day moving average price of $66.96.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Wednesday, February 11th. The oil and gas company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.26. Precision Drilling had a net margin of 0.05% and a return on equity of 4.12%. The company had revenue of $349.37 million during the quarter, compared to analysts’ expectations of $489.80 million. Sell-side analysts forecast that Precision Drilling will post 7.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precision Drilling

Several institutional investors and hedge funds have recently modified their holdings of the company. Aristides Capital LLC acquired a new stake in Precision Drilling during the fourth quarter worth approximately $225,000. Invesco Ltd. raised its holdings in Precision Drilling by 5.5% in the 4th quarter. Invesco Ltd. now owns 9,614 shares of the oil and gas company’s stock valued at $691,000 after acquiring an additional 502 shares during the last quarter. Vident Advisory LLC purchased a new position in shares of Precision Drilling during the 4th quarter worth $222,000. Mackenzie Financial Corp lifted its stake in shares of Precision Drilling by 45.9% during the 4th quarter. Mackenzie Financial Corp now owns 21,784 shares of the oil and gas company’s stock worth $1,566,000 after purchasing an additional 6,854 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in shares of Precision Drilling during the fourth quarter worth $322,000. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.