TD Securities Boosts Precision Drilling (NYSE:PDS) Price Target to C$135.00

Precision Drilling (NYSE:PDSGet Rating) (TSE:PD) had its price objective hoisted by research analysts at TD Securities from C$130.00 to C$135.00 in a research note issued on Thursday, The Fly reports.

A number of other equities research analysts also recently weighed in on PDS. CIBC lifted their price objective on Precision Drilling from C$82.50 to C$115.00 in a report on Thursday, April 14th. Piper Sandler upped their price target on Precision Drilling from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, June 1st. Stifel Nicolaus boosted their target price on shares of Precision Drilling from C$135.00 to C$142.00 in a research note on Friday, April 29th. began coverage on shares of Precision Drilling in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Raymond James upgraded shares of Precision Drilling from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $112.00.

Precision Drilling Stock Performance

Shares of NYSE PDS traded up $2.20 during trading hours on Thursday, reaching $66.03. The stock had a trading volume of 9,486 shares, compared to its average volume of 78,815. Precision Drilling has a twelve month low of $28.00 and a twelve month high of $87.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.71 and a quick ratio of 1.60. The business’s fifty day moving average is $67.34 and its two-hundred day moving average is $62.97. The company has a market cap of $897.02 million, a price-to-earnings ratio of -5.93 and a beta of 2.48.

Precision Drilling (NYSE:PDSGet Rating) (TSE:PD) last released its quarterly earnings data on Thursday, April 28th. The oil and gas company reported ($2.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($1.77). The business had revenue of $351.00 million for the quarter, compared to the consensus estimate of $329.17 million. Precision Drilling had a negative return on equity of 14.98% and a negative net margin of 16.91%. Precision Drilling’s revenue was up 48.4% on a year-over-year basis. During the same period in the previous year, the business posted ($2.13) earnings per share. As a group, research analysts expect that Precision Drilling will post -1.65 EPS for the current year.

Hedge Funds Weigh In On Precision Drilling

Several hedge funds have recently added to or reduced their stakes in PDS. Beirne Wealth Consulting Services LLC lifted its position in Precision Drilling by 2.1% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 15,877 shares of the oil and gas company’s stock valued at $1,174,000 after purchasing an additional 324 shares during the period. Great West Life Assurance Co. Can acquired a new position in Precision Drilling in the first quarter valued at approximately $27,000. Cibc World Market Inc. boosted its stake in Precision Drilling by 13.5% in the first quarter. Cibc World Market Inc. now owns 7,704 shares of the oil and gas company’s stock valued at $569,000 after acquiring an additional 917 shares during the last quarter. Verdad Advisers LP acquired a new stake in Precision Drilling during the 4th quarter worth $37,000. Finally, BlackRock Inc. raised its position in shares of Precision Drilling by 18.4% during the 1st quarter. BlackRock Inc. now owns 7,081 shares of the oil and gas company’s stock valued at $523,000 after acquiring an additional 1,101 shares during the last quarter. Institutional investors own 43.04% of the company’s stock.

Precision Drilling Company Profile

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Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates in two segments, Contract Drilling Services; and Completion and Production Services.

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