Precision Drilling Corp (NYSE:PDS) Given Consensus Rating of “Buy” by Analysts

Precision Drilling Corp (NYSE:PDS) (TSE:PD) has received a consensus recommendation of “Buy” from the sixteen analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $3.65.

Several research analysts have commented on the stock. AltaCorp Capital reissued a “sector perform” rating on shares of STEP Energy Services in a report on Thursday, June 20th. Raymond James reissued a “buy” rating on shares of Precision Drilling in a report on Wednesday, June 5th. Morgan Stanley set a $207.00 price target on shares of Alibaba Group and gave the company a “buy” rating in a report on Friday, July 12th. BMO Capital Markets set a $32.00 price target on shares of Axalta Coating Systems and gave the company a “hold” rating in a report on Friday, April 26th. Finally, ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st.

Shares of Precision Drilling stock traded up $0.02 on Tuesday, reaching $1.70. 433,806 shares of the company traded hands, compared to its average volume of 698,665. The business has a 50 day moving average of $1.81. Precision Drilling has a 52 week low of $1.62 and a 52 week high of $4.12. The company has a quick ratio of 1.99, a current ratio of 2.11 and a debt-to-equity ratio of 1.08.

A number of large investors have recently modified their holdings of PDS. Norges Bank bought a new stake in Precision Drilling in the 4th quarter worth $9,130,000. Ninepoint Partners LP bought a new stake in Precision Drilling in the 1st quarter worth $5,489,000. FMR LLC grew its holdings in Precision Drilling by 10.9% in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Precision Drilling by 50.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,558,453 shares of the oil and gas company’s stock worth $6,071,000 after acquiring an additional 860,160 shares during the last quarter. Finally, TD Asset Management Inc. grew its holdings in Precision Drilling by 46.6% in the 1st quarter. TD Asset Management Inc. now owns 1,836,463 shares of the oil and gas company’s stock worth $4,358,000 after acquiring an additional 583,976 shares during the last quarter. Institutional investors own 43.37% of the company’s stock.

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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