Precision Drilling (PDS) Lifted to Hold at ValuEngine

Precision Drilling (NYSE:PDS) (TSE:PD) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, April 1st, ValuEngine reports.

A number of other analysts have also recently commented on the company. Jefferies Financial Group cut Precision Drilling from a “buy” rating to a “hold” rating and cut their target price for the stock from $3.00 to $2.60 in a research report on Friday, March 15th. Raymond James upgraded Precision Drilling from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, January 30th. National Bank Financial began coverage on Precision Drilling in a research report on Friday, December 21st. They issued an “outperform” rating on the stock. BMO Capital Markets restated a “buy” rating on shares of Precision Drilling in a research report on Tuesday, December 11th. Finally, Zacks Investment Research cut Precision Drilling from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Precision Drilling has a consensus rating of “Buy” and a consensus price target of $3.92.

Shares of PDS traded down $0.12 during midday trading on Monday, reaching $2.81. 988,102 shares of the stock were exchanged, compared to its average volume of 1,242,603. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.73 and a current ratio of 1.85. Precision Drilling has a twelve month low of $1.62 and a twelve month high of $4.14. The stock has a market capitalization of $849.03 million, a P/E ratio of -10.81 and a beta of 2.28.

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning purchased a new stake in shares of Precision Drilling during the 1st quarter worth approximately $65,000. Virtu Financial LLC purchased a new stake in shares of Precision Drilling during the 1st quarter worth approximately $141,000. Foundation Resource Management Inc. boosted its stake in shares of Precision Drilling by 2.0% during the 1st quarter. Foundation Resource Management Inc. now owns 523,182 shares of the oil and gas company’s stock worth $1,250,000 after acquiring an additional 10,074 shares in the last quarter. Norges Bank purchased a new stake in shares of Precision Drilling during the 4th quarter worth approximately $9,130,000. Finally, FMR LLC boosted its stake in shares of Precision Drilling by 10.9% during the 4th quarter. FMR LLC now owns 22,033,635 shares of the oil and gas company’s stock worth $38,250,000 after acquiring an additional 2,158,932 shares in the last quarter. 47.67% of the stock is currently owned by institutional investors.

Precision Drilling Company Profile

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Analyst Recommendations for Precision Drilling (NYSE:PDS)

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