Precision Drilling (NYSE:PDS) shares the gap up to $59.59


Shares of Precision Drilling Co. (NYSE:PDS – Get Rating) (TSE:PD) fell ahead of the market open on Thursday. The stock had previously closed at $59.59, but opened at $56.76. Precision Drilling shares last traded at $56.19, with volume traded at 596 shares.

Changes to analyst ratings

Several research analysts recently commented on the title. Canaccord Genuity Group raised its price target on Precision Drilling shares from C$85.00 to C$105.00 and gave the company a “holding” rating in a Friday, April 22 research note. Piper Sandler raised its price target on Precision Drilling shares from $110.00 to $125.00 and gave the company an “overweight” rating in a Wednesday, June 1 research note. CIBC raised its price target on shares of Precision Drilling from C$82.50 to C$115.00 in a Thursday, April 14 research note. Stifel Nicolaus raised his price target on Precision Drilling shares from C$135.00 to C$142.00 in a Friday, April 29 research note. Finally, Royal Bank of Canada raised its price target on Precision Drilling shares from C$135.00 to C$147.00 in a Friday, April 29 research note. Four research analysts gave the stock a hold rating, seven gave the company a buy rating and one gave the company a high buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Precision drilling down 0.5%

The company has a quick ratio of 1.60, a current ratio of 1.71 and a debt ratio of 0.98. The company’s fifty-day simple moving average is $67.76 and its two-hundred-day simple moving average is $62.52. The company has a market capitalization of $767.14 million, a price-earnings ratio of -5.08 and a beta of 2.48.

Precision Drilling (NYSE:PDS – Get Rating) (TSE:PD) last released its quarterly earnings data on Thursday, April 28. The oil and gas company reported ($2.57) earnings per share for the quarter, missing analysts’ consensus estimate of ($0.80) by ($1.77). Precision Drilling had a negative return on equity of 14.98% and a negative net margin of 16.91%. The company posted revenue of $351.00 million for the quarter, versus analyst estimates of $329.17 million. During the same period of the previous year, the company posted an EPS of ($2.13). The company’s revenue for the quarter increased by 48.4% compared to the same quarter last year. On average, stock analysts predict Precision Drilling Co. will post -1.65 EPS for the current year.

Institutional Precision Drilling Trading

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Great West Life Assurance Co. Can acquired a new position in shares of Precision Drilling in Q1 worth $27,000. Verdad Advisers LP acquired a new position in shares of Precision Drilling in Q4 worth $37,000. Mackenzie Financial Corp acquired a new position in shares of Precision Drilling in Q1 worth $395,000. Janney Montgomery Scott LLC acquired a new position in shares of Precision Drilling in Q1 worth $400,000. Finally, Alpha Paradigm Partners LLC acquired a new position in shares of Precision Drilling in Q4 worth $193,000. Institutional investors and hedge funds hold 43.04% of the company’s shares.

Precision Drilling Company Profile

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Precision Drilling Corporation, a drilling company, provides onshore drilling, completions and production services to exploration and production companies in the petroleum, natural gas and geothermal industries in North America and the Middle East. East. The Company operates in two segments, contract drilling services; and completion and production services.

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