Precision Drilling (NYSE:PDS) Stock Dropped to Hold by Freedom Broker

Freedom Broker cut shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a buy rating to a hold rating in a research report released on Friday morning,Benzinga reports. The firm currently has $121.00 target price on the oil and gas company’s stock, up from their previous target price of $116.00.

A number of other research firms have also weighed in on PDS. National Bank Financial upgraded Precision Drilling from a “sector perform” rating to an “outperform” rating in a research note on Monday, October 26th. BMO Capital Markets restated an “outperform” rating on shares of Precision Drilling in a research note on Wednesday. Wall Street Zen raised Precision Drilling from a “hold” rating to a “buy” rating in a report on Saturday. TD Securities upgraded Precision Drilling from a “hold” rating to a “buy” rating and lifted their price target for the company from $116.00 to $150.00 in a research report on Tuesday, October 20th. Finally, Zacks Research raised Precision Drilling from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Precision Drilling presently has an average rating of “Moderate Buy” and an average price target of $127.60.

Precision Drilling Trading Up 0.2%

NYSE PDS opened at $106.01 on Friday. The company has a market capitalization of $1.33 billion, a PE ratio of -196.31 and a beta of 0.95. The company has a fifty day moving average of $88.70 and a 200 day moving average of $87.75. Precision Drilling has a 1 year low of $56.10 and a 1 year high of $112.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.48 and a quick ratio of 1.32.

Institutional Trading of Precision Drilling

Institutional investors have recently bought and sold shares of the business. State of Wyoming purchased a new stake in shares of Precision Drilling in the third quarter valued at approximately $32,000. Group One Trading LLC purchased a new position in shares of Precision Drilling during the 1st quarter valued at approximately $81,000. Plato Investment Management Ltd purchased a new position in shares of Precision Drilling during the 2nd quarter valued at approximately $190,000. Signaturefd LLC grew its stake in Precision Drilling by 4.7% in the 3rd quarter. Signaturefd LLC now owns 3,054 shares of the oil and gas company’s stock valued at $246,000 after acquiring an additional 137 shares during the period. Finally, Pictet Asset Management Holding SA acquired a new stake in Precision Drilling in the 1st quarter valued at $300,000. 48.86% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Company Profile

Precision Drilling Corporation is an oilfield services company headquartered in Calgary, Alberta. The company provides contract drilling and related services to oil and natural gas exploration and production companies, with operations serving customers primarily in Canada and the United States as well as selected international markets.

Its Contract Drilling Services segment operates land-based drilling rigs and provides associated equipment, personnel and technical expertise. Precision also offers directional drilling and other technologies designed to support the construction of complex horizontal and extended-reach wells.

Through its Completion and Production Services business, the company provides well servicing, snubbing, rental equipment, camp and catering services, and other support activities used during well completion, maintenance and production.