Precision Drilling (NYSE:PDS – Get Rating) (TSE:PD) was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating in a research report issued on Friday, TheStreetRatingsTable reports.
A number of other equities research analysts have also weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Precision Drilling from C$115.00 to C$100.00 in a report on Friday, August 19th. BMO Capital Markets lifted their price target on shares of Precision Drilling from C$130.00 to C$140.00 in a research note on Thursday, July 28th. Raymond James lowered their price objective on Precision Drilling from C$130.00 to C$115.00 in a report on Wednesday, September 28th. TD Securities raised their target price on shares of Precision Drilling from C$135.00 to C$145.00 in a report on Friday. Finally, Stifel Nicolaus upped their price target on shares of Precision Drilling from C$140.00 to C$165.00 in a research report on Friday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $125.78.
Precision Drilling Stock Performance
Shares of PDS stock opened at $73.91 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.36 and a debt-to-equity ratio of 1.01. The company has a market cap of $1.00 billion, a PE ratio of -18.20 and a beta of 2.36. The company’s fifty day simple moving average is $59.84 and its 200-day simple moving average is $64.90. Precision Drilling has a 52 week low of $29.26 and a 52 week high of $87.19.
Institutional Investors Weigh In On Precision Drilling
Institutional investors and hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can acquired a new stake in Precision Drilling during the 1st quarter worth about $27,000. US Bancorp DE grew its position in Precision Drilling by 239.3% during the 3rd quarter. US Bancorp DE now owns 1,374 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 969 shares in the last quarter. Shell Asset Management Co. acquired a new stake in Precision Drilling during the 2nd quarter valued at $96,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Precision Drilling in the second quarter valued at $102,000. Finally, SG Americas Securities LLC purchased a new position in shares of Precision Drilling during the second quarter valued at $107,000. 45.59% of the stock is owned by institutional investors and hedge funds.
About Precision Drilling
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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