Precision Drilling Co. (NYSE:PDS) Receives $66.00 Consensus Price Target from Brokerages

Posted by on Sep 25th, 2023

Shares of Precision Drilling Co. (NYSE:PDS – Get Free Report) (TSE:PD) have earned a consensus recommendation of “Buy” from the five analysts that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $66.00.

Several research firms have commented on PDS. BMO Capital Markets lifted their target price on shares of Precision Drilling from C$100.00 to C$110.00 in a research note on Friday, July 28th. StockNews.com initiated coverage on shares of Precision Drilling in a report on Thursday, August 17th. They issued a “strong-buy” rating on the stock. TheStreet raised shares of Precision Drilling from a “d+” rating to a “c-” rating in a research note on Tuesday, September 12th. Stifel Nicolaus boosted their price objective on shares of Precision Drilling from C$130.00 to C$135.00 in a research note on Friday, September 8th. Finally, Royal Bank of Canada boosted their price objective on shares of Precision Drilling from C$118.00 to C$125.00 and gave the company an “outperform” rating in a research note on Wednesday, September 13th.

Read Our Latest Stock Report on Precision Drilling

Institutional Trading of Precision Drilling

Institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can purchased a new stake in Precision Drilling during the 1st quarter worth $27,000. Signaturefd LLC boosted its position in Precision Drilling by 246.8% during the 2nd quarter. Signaturefd LLC now owns 652 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 464 shares during the period. Deutsche Bank AG purchased a new stake in Precision Drilling during the 4th quarter worth $35,000. Barclays PLC boosted its position in Precision Drilling by 150.0% during the 4th quarter. Barclays PLC now owns 500 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 300 shares during the period. Finally, Wells Fargo & Company MN purchased a new stake in Precision Drilling during the 4th quarter worth $38,000. 39.16% of the stock is owned by hedge funds and other institutional investors.

Precision Drilling Trading Down 0.3 %

Shares of PDS opened at $67.11 on Friday. The stock has a market cap of $913.37 million, a price-to-earnings ratio of 9.47 and a beta of 2.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.35. Precision Drilling has a 1-year low of $41.56 and a 1-year high of $87.36. The firm has a 50 day simple moving average of $65.49 and a 200-day simple moving average of $54.48.

Precision Drilling (NYSE:PDS – Get Free Report) (TSE:PD) last released its earnings results on Thursday, July 27th. The oil and gas company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.99 by $0.22. The firm had revenue of $316.89 million during the quarter, compared to analysts’ expectations of $303.03 million. Precision Drilling had a net margin of 8.15% and a return on equity of 12.05%. Equities analysts forecast that Precision Drilling will post 9.42 EPS for the current fiscal year.

Precision Drilling Company Profile

(Get Free Report

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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Analyst Recommendations for Precision Drilling (NYSE:PDS)

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