Precision Drilling (NYSE:PDS) (TSE:PD) has been assigned a $3.00 target price by analysts at BMO Capital Markets in a report released on Tuesday, TipRanks reports. The firm currently has a “buy” rating on the oil and gas company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 114.29% from the company’s previous close.
Several other research firms also recently commented on PDS. AltaCorp Capital reaffirmed an “outperform” rating on shares of Precision Drilling in a research note on Thursday, June 20th. ValuEngine upgraded Precision Drilling from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. TD Securities raised Precision Drilling to a “buy” rating in a report on Wednesday, September 4th. Canaccord Genuity reissued a “buy” rating on shares of Precision Drilling in a report on Friday, August 16th. Finally, Morgan Stanley cut their price target on Precision Drilling from $3.50 to $3.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $2.56.
NYSE PDS traded down $0.03 during trading on Tuesday, reaching $1.40. The company’s stock had a trading volume of 1,260,623 shares, compared to its average volume of 1,132,796. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.70 and a current ratio of 1.83. The firm has a market cap of $411.29 million, a price-to-earnings ratio of -5.38 and a beta of 2.33. Precision Drilling has a twelve month low of $1.03 and a twelve month high of $3.85. The business’s fifty day moving average price is $1.35 and its 200-day moving average price is $1.98.
Institutional investors have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of Precision Drilling in the 1st quarter valued at approximately $36,000. Investment House LLC bought a new stake in shares of Precision Drilling during the 2nd quarter worth about $39,000. Evergreen Capital Management LLC acquired a new position in Precision Drilling in the 1st quarter valued at $54,000. Millennium Management LLC acquired a new stake in shares of Precision Drilling in the fourth quarter valued at approximately $40,000. Finally, Creative Planning acquired a new position in shares of Precision Drilling in the 1st quarter valued at approximately $65,000. 37.53% of the stock is owned by institutional investors and hedge funds.
About Precision Drilling
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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