Precision Drilling Corporation (PDS) Upgraded at ValuEngine
ValuEngine upgraded shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) from a strong sell rating to a sell rating in a research report sent to investors on Monday morning.
A number of other equities research analysts have also recently commented on the company. Cowen and Company reaffirmed a buy rating and set a $5.00 price objective on shares of Precision Drilling Corporation in a research note on Tuesday, July 11th. Jefferies Group LLC reaffirmed a buy rating and set a $4.50 price objective (down from $6.00) on shares of Precision Drilling Corporation in a research note on Wednesday, August 2nd. TD Securities started coverage on Precision Drilling Corporation in a research note on Monday, September 11th. They set a buy rating for the company. Morgan Stanley cut Precision Drilling Corporation from an overweight rating to an equal weight rating and decreased their price objective for the stock from $9.00 to $4.50 in a research note on Wednesday, June 21st. Finally, Piper Jaffray Companies reaffirmed a hold rating and set a $3.25 price objective on shares of Precision Drilling Corporation in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Precision Drilling Corporation has a consensus rating of Hold and an average price target of $6.38.
Shares of Precision Drilling Corporation (PDS) opened at 2.81 on Monday. The stock’s market capitalization is $824.00 million. Precision Drilling Corporation has a one year low of $2.38 and a one year high of $6.25. The stock’s 50 day moving average price is $2.78 and its 200 day moving average price is $3.46.
Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last released its earnings results on Monday, July 31st. The oil and gas company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.07. The company had revenue of $275.52 million during the quarter, compared to analysts’ expectations of $271.33 million. Precision Drilling Corporation had a negative return on equity of 7.10% and a negative net margin of 12.38%. The business’s revenue for the quarter was up 68.0% on a year-over-year basis. During the same period last year, the firm earned ($0.20) EPS. On average, analysts forecast that Precision Drilling Corporation will post ($0.32) EPS for the current year.
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Large investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new position in Precision Drilling Corporation in the first quarter valued at about $102,000. Cipher Capital LP acquired a new position in Precision Drilling Corporation in the first quarter valued at about $120,000. Tower Research Capital LLC TRC grew its stake in Precision Drilling Corporation by 200.1% in the second quarter. Tower Research Capital LLC TRC now owns 29,724 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 19,819 shares during the period. Pacad Investment Ltd. grew its stake in Precision Drilling Corporation by 81.2% in the second quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 14,700 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Precision Drilling Corporation in the second quarter valued at about $158,000. 61.43% of the stock is owned by hedge funds and other 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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