Precision Drilling Co. (NYSE:PDS) (TSE:PD)’s stock price hit a new 52-week high on Thursday . The company traded as high as $47.65 and last traded at $47.65, with a volume of 623 shares changing hands. The stock had previously closed at $45.70.
A number of analysts have recently weighed in on the company. Tudor Pickering restated a “buy” rating on shares of Precision Drilling in a research note on Friday, September 24th. Canaccord Genuity upgraded Precision Drilling from a “hold” rating to a “buy” rating and lowered their target price for the company from $54.00 to $50.00 in a research note on Tuesday, August 24th. Zacks Investment Research upgraded Precision Drilling from a “sell” rating to a “hold” rating in a research report on Wednesday, August 4th. Evercore ISI upgraded Precision Drilling from an “in-line” rating to an “outperform” rating in a research report on Wednesday, June 23rd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a C$66.00 price objective on shares of Precision Drilling in a research report on Friday, October 8th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $45.33.
The company has a market capitalization of $633.94 million, a price-to-earnings ratio of -4.36 and a beta of 3.18. The company has a 50-day moving average price of $35.19 and a 200-day moving average price of $33.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.64.
Large investors have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in shares of Precision Drilling by 1,144.0% during the 2nd quarter. Deutsche Bank AG now owns 3,732 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 3,432 shares in the last quarter. BlackRock Inc. bought a new stake in Precision Drilling in the 1st quarter valued at approximately $90,000. Marshall Wace LLP bought a new stake in Precision Drilling in the 2nd quarter valued at approximately $271,000. Osmium Partners LLC bought a new stake in Precision Drilling in the 2nd quarter valued at approximately $292,000. Finally, Toronto Dominion Bank lifted its stake in Precision Drilling by 10.6% in the 1st quarter. Toronto Dominion Bank now owns 7,019 shares of the oil and gas company’s stock valued at $152,000 after acquiring an additional 674 shares in the last quarter. Institutional investors and hedge funds own 39.88% of the company’s stock.
Precision Drilling Company Profile (NYSE:PDS)
Precision Drilling Corp. engages in the provision od onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the following segments: Contract Drilling Services; and Completion and Production Services. The Contract Drilling Services segment includes drilling rigs, directional drilling, procurement and distribution of oilfield supplies, and the manufacture, sale, and repair of drilling equipment.
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