Zacks Investment Research upgraded shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) from a sell rating to a hold rating in a report published on Friday morning.

According to Zacks, “Precision Drilling Corporation is an oilfield services company. The Company provides contract drilling, well servicing and strategic support services to the oil and gas industry in North America and internationally. It provides land drilling, directional drilling, turnkey drilling, camp and catering services, procures and distributes oilfield supplies. It also offers service rigs for well completion and workover services, snubbing services and wastewater treatment services, tubulars, well control equipment, wellsite accommodations. Precision Drilling Corporation is headquartered in Calgary, Canada. “

A number of other research firms also recently issued reports on PDS. Jefferies Group LLC raised shares of Precision Drilling Corporation from a hold rating to a buy rating and set a $7.00 price objective for the company in a report on Tuesday, April 11th. BidaskClub downgraded shares of Precision Drilling Corporation from a sell rating to a strong sell rating in a report on Wednesday, July 19th. Cowen and Company reaffirmed a buy rating and set a $5.00 price target on shares of Precision Drilling Corporation in a report on Tuesday, July 11th. Raymond James Financial, Inc. raised shares of Precision Drilling Corporation from an outperform rating to a strong-buy rating in a report on Thursday, July 6th. Finally, UBS AG raised shares of Precision Drilling Corporation from an outperform rating to a strong-buy rating in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Precision Drilling Corporation currently has a consensus rating of Buy and a consensus target price of $6.35.

Precision Drilling Corporation (NYSE PDS) opened at 2.92 on Friday. Precision Drilling Corporation has a 52 week low of $2.87 and a 52 week high of $6.25. The firm’s 50-day moving average is $3.20 and its 200-day moving average is $4.27. The company’s market cap is $856.26 million.

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A number of institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in Precision Drilling Corporation during the first quarter valued at approximately $102,000. Cipher Capital LP bought a new position in Precision Drilling Corporation during the first quarter valued at approximately $120,000. Comerica Bank raised its position in Precision Drilling Corporation by 8.2% in the fourth quarter. Comerica Bank now owns 34,183 shares of the oil and gas company’s stock valued at $186,000 after buying an additional 2,586 shares during the period. Princeton Alpha Management LP raised its position in Precision Drilling Corporation by 18.3% in the first quarter. Princeton Alpha Management LP now owns 37,809 shares of the oil and gas company’s stock valued at $178,000 after buying an additional 5,861 shares during the period. Finally, AQR Capital Management LLC bought a new position in Precision Drilling Corporation during the fourth quarter valued at approximately $223,000. Hedge funds and other institutional investors own 63.23% of the company’s stock.

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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Analyst Recommendations for Precision Drilling Corporation (NYSE:PDS)

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