Precision Drilling (PDS) Trading Down 5.5%

Precision Drilling Corp (NYSE:PDS) (TSE:PD)’s share price was down 5.5% on Friday . The stock traded as low as $2.39 and last traded at $2.42. Approximately 632,127 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 1,934,935 shares. The stock had previously closed at $2.56.

Several equities analysts recently weighed in on PDS shares. Piper Jaffray Companies set a $6.00 price target on shares of Precision Drilling and gave the company a “buy” rating in a research report on Wednesday, October 3rd. TD Securities cut shares of Precision Drilling to a “buy” rating in a research report on Wednesday, September 5th. Jefferies Financial Group set a $5.00 price target on shares of Precision Drilling and gave the company a “buy” rating in a research report on Monday, July 30th. Raymond James reaffirmed a “buy” rating on shares of Precision Drilling in a research report on Tuesday, October 30th. Finally, Citigroup raised shares of Precision Drilling from a “neutral” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $4.40.

The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.73 and a current ratio of 1.85. The company has a market cap of $752.08 million, a P/E ratio of -8.64 and a beta of 2.10.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Thursday, October 25th. The oil and gas company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). The firm had revenue of $292.65 million during the quarter, compared to analysts’ expectations of $306.54 million. Precision Drilling had a negative net margin of 9.77% and a negative return on equity of 6.59%. As a group, analysts expect that Precision Drilling Corp will post -0.29 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Precision Drilling by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,265,717 shares of the oil and gas company’s stock valued at $25,139,000 after buying an additional 220,935 shares during the last quarter. Morgan Stanley increased its stake in Precision Drilling by 1.8% in the 3rd quarter. Morgan Stanley now owns 1,387,162 shares of the oil and gas company’s stock valued at $4,799,000 after buying an additional 25,041 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Precision Drilling by 2.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,168,347 shares of the oil and gas company’s stock valued at $7,482,000 after buying an additional 58,531 shares during the last quarter. Credit Suisse AG increased its stake in Precision Drilling by 9.7% in the 3rd quarter. Credit Suisse AG now owns 283,813 shares of the oil and gas company’s stock valued at $983,000 after buying an additional 25,179 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Precision Drilling by 20.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 250,494 shares of the oil and gas company’s stock valued at $864,000 after buying an additional 42,600 shares during the last quarter. Hedge funds and other institutional investors own 48.59% of the company’s stock.

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Precision Drilling Company Profile (NYSE:PDS)

Precision Drilling Corporation 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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