Precision Drilling (NYSE:PDS) Receives “Hold” Rating from Tudor Pickering

Share on StockTwits

Precision Drilling (NYSE:PDS) (TSE:PD)‘s stock had its “hold” rating reiterated by investment analysts at Tudor Pickering in a research note issued on Wednesday, AnalystRatings.com reports.

PDS has been the topic of a number of other reports. Canaccord Genuity downgraded Precision Drilling to a “hold” rating and set a $1.00 price target on the stock. in a report on Tuesday, March 10th. Evercore ISI cut shares of Precision Drilling to an “outperform” rating in a report on Monday, March 9th. Royal Bank of Canada lowered their target price on shares of Precision Drilling from $1.50 to $1.25 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley downgraded Precision Drilling from an “overweight” rating to an “equal weight” rating in a research report on Monday, March 16th. Finally, Wolfe Research downgraded Precision Drilling from a “peer perform” rating to an “underperform” rating in a research note on Thursday, March 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $1.69.

PDS stock remained flat at $$0.33 during midday trading on Wednesday. The company’s stock had a trading volume of 1,355,310 shares, compared to its average volume of 990,450. Precision Drilling has a fifty-two week low of $0.27 and a fifty-two week high of $3.01. The company has a quick ratio of 1.79, a current ratio of 1.93 and a debt-to-equity ratio of 0.97. The stock’s 50-day simple moving average is $0.98 and its 200 day simple moving average is $1.18. The firm has a market cap of $90.09 million, a price-to-earnings ratio of 33.23 and a beta of 2.05.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.08. Precision Drilling had a net margin of 0.43% and a negative return on equity of 0.06%. The firm had revenue of $282.08 million for the quarter, compared to analysts’ expectations of $273.82 million. As a group, equities research analysts forecast that Precision Drilling will post -0.21 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can grew its position in Precision Drilling by 11.8% during the 4th quarter. Bank of Montreal Can now owns 3,416,812 shares of the oil and gas company’s stock worth $4,784,000 after purchasing an additional 359,745 shares during the period. Norges Bank acquired a new stake in Precision Drilling during the 4th quarter worth about $2,859,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Precision Drilling by 4.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,769,185 shares of the oil and gas company’s stock worth $2,469,000 after purchasing an additional 79,829 shares during the period. Intact Investment Management Inc. grew its position in Precision Drilling by 55.6% during the 4th quarter. Intact Investment Management Inc. now owns 1,390,500 shares of the oil and gas company’s stock worth $2,517,000 after purchasing an additional 496,600 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its position in Precision Drilling by 82.0% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,383,470 shares of the oil and gas company’s stock worth $1,928,000 after purchasing an additional 623,152 shares during the period. 33.14% of the stock is currently owned by institutional investors.

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.

Featured Article: Reverse Stock Split

Analyst Recommendations for Precision Drilling (NYSE:PDS)

Receive News & Ratings for Precision Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling and related companies with MarketBeat.com's FREE daily email newsletter.