Precision Drilling (NYSE:PDS) Stock Lifted to Hold by Zacks Research

Zacks Research upgraded shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks reports.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Precision Drilling in a report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.33.

Precision Drilling Price Performance

Shares of PDS stock opened at $79.18 on Monday. Precision Drilling has a fifty-two week low of $53.42 and a fifty-two week high of $103.80. The firm has a market capitalization of $996.59 million, a price-to-earnings ratio of -37.88 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 1.46. The stock’s 50-day simple moving average is $84.94 and its 200-day simple moving average is $88.48.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Tuesday, July 28th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.81). The company had revenue of $319.15 million for the quarter, compared to analyst estimates of $310.70 million. Precision Drilling had a negative net margin of 1.68% and a positive return on equity of 2.11%. As a group, equities analysts forecast that Precision Drilling will post 4.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precision Drilling

Hedge funds and other institutional investors have recently bought and sold shares of the business. Group One Trading LLC purchased a new stake in shares of Precision Drilling in the 1st quarter valued at $81,000. Plato Investment Management Ltd acquired a new position in Precision Drilling during the second quarter valued at $190,000. Pictet Asset Management Holding SA purchased a new stake in Precision Drilling in the first quarter valued at $300,000. Amundi grew its position in Precision Drilling by 6.9% during the 1st quarter. Amundi now owns 3,095 shares of the oil and gas company’s stock worth $305,000 after purchasing an additional 201 shares during the period. Finally, Aristides Capital LLC purchased a new position in shares of Precision Drilling during the 4th quarter valued at about $225,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

About Precision Drilling

Precision Drilling Corporation is a Canadian oilfield services company that provides contract drilling and well-servicing solutions to oil and natural gas exploration and production companies. The company is headquartered in Calgary, Alberta, and trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol PDS.

Its primary business is contract drilling, including the provision of land-based drilling rigs, crews and related equipment used to construct oil and gas wells.