Precision Drilling (PDS) Given a $4.00 Price Target by Piper Jaffray Analysts

Piper Jaffray set a $4.00 price target on Precision Drilling (NYSE:PDS) (TSE:PD) in a report issued on Thursday morning. The brokerage currently has a buy rating on the oil and gas company’s stock. Piper Jaffray also issued estimates for Precision Drilling’s FY2019 earnings at $0.00 EPS.

A number of other equities analysts have also weighed in on PDS. ValuEngine lowered shares of Precision Drilling from a sell rating to a strong sell rating in a research report on Sunday, December 31st. Zacks Investment Research raised shares of Precision Drilling from a hold rating to a buy rating and set a $3.50 price objective for the company in a research report on Thursday, January 4th. Finally, Credit Suisse Group reissued a neutral rating and issued a $3.40 price objective (up previously from $3.00) on shares of Precision Drilling in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Precision Drilling presently has an average rating of Hold and an average price target of $4.36.

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Shares of NYSE PDS opened at $2.79 on Thursday. Precision Drilling has a 12-month low of $2.26 and a 12-month high of $5.09. The stock has a market capitalization of $818.14, a price-to-earnings ratio of -9.96 and a beta of 1.89. The company has a current ratio of 2.11, a quick ratio of 1.99 and a debt-to-equity ratio of 0.96.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $347.19 million during the quarter, compared to analyst estimates of $333.97 million. Precision Drilling had a negative net margin of 10.29% and a negative return on equity of 5.66%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) earnings per share. equities analysts predict that Precision Drilling will post -0.25 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its position in Precision Drilling by 178.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,572 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 20,234 shares during the last quarter. Cushing Asset Management LP acquired a new position in Precision Drilling during the fourth quarter worth approximately $227,000. Jane Street Group LLC acquired a new position in Precision Drilling during the third quarter worth approximately $406,000. Virtu Financial LLC increased its position in Precision Drilling by 106.7% during the fourth quarter. Virtu Financial LLC now owns 193,439 shares of the oil and gas company’s stock worth $584,000 after purchasing an additional 99,839 shares during the last quarter. Finally, Credit Capital Investments LLC increased its position in Precision Drilling by 1,993.2% during the fourth quarter. Credit Capital Investments LLC now owns 209,322 shares of the oil and gas company’s stock worth $632,000 after purchasing an additional 199,322 shares during the last quarter. 45.77% of the stock is owned by hedge funds and other institutional investors.

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Precision Drilling Company Profile

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.

Analyst Recommendations for Precision Drilling (NYSE:PDS)

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