Cowen and Company Analysts Give Precision Drilling Corporation (PDS) a $5.00 Price Target
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) has been assigned a $5.00 target price by research analysts at Cowen and Company in a research report issued on Wednesday. The firm presently has a “buy” rating on the oil and gas company’s stock. Cowen and Company’s price objective would suggest a potential upside of 97.63% from the stock’s current price.
PDS has been the topic of a number of other reports. Piper Jaffray Companies raised shares of Precision Drilling Corporation from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $3.60 to $4.25 in a report on Monday, September 18th. Morgan Stanley cut shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $9.00 to $4.50 in a report on Wednesday, June 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $6.00 target price (down from $7.00) on shares of Precision Drilling Corporation in a report on Friday, October 6th. Zacks Investment Research raised shares of Precision Drilling Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Finally, ValuEngine cut shares of Precision Drilling Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $5.58.
Precision Drilling Corporation (PDS) traded down 1.779% during mid-day trading on Wednesday, hitting $2.485. 1,311,129 shares of the stock were exchanged. The firm’s market cap is $728.70 million. Precision Drilling Corporation has a 52-week low of $2.38 and a 52-week high of $6.25. The company has a 50 day moving average price of $2.80 and a 200 day moving average price of $3.32.
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $275.52 million during the quarter, compared to the consensus estimate of $271.33 million. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. The company’s revenue was up 68.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.20) EPS. On average, analysts anticipate that Precision Drilling Corporation will post ($0.33) EPS for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in Precision Drilling Corporation by 200.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 29,724 shares of the oil and gas company’s stock valued at $132,000 after buying an additional 19,819 shares during the period. Pacad Investment Ltd. increased its stake in Precision Drilling Corporation by 81.2% in the 2nd quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 14,700 shares during the period. Verition Fund Management LLC acquired a new position in Precision Drilling Corporation in the 2nd quarter valued at $158,000. Parametric Portfolio Associates LLC increased its stake in Precision Drilling Corporation by 140.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 53,083 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 30,964 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in Precision Drilling Corporation in the 1st quarter valued at $306,000. 61.42% of the stock is currently owned by institutional investors.
Precision Drilling Corporation Company Profile
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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