Piper Sandler Raises Precision Drilling (NYSE:PDS) Price Target to $101.00

Precision Drilling (NYSE:PDS) (TSE:PD) had its target price lifted by Piper Sandler from $81.00 to $101.00 in a research report sent to investors on Monday, Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas company’s stock.

Separately, StockNews.com downgraded Precision Drilling from a buy rating to a hold rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $118.50.

Precision Drilling Trading Up 0.2 %

Shares of NYSE:PDS opened at $72.94 on Monday. The company has a quick ratio of 1.59, a current ratio of 1.71 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $67.99 and its 200 day moving average price is $61.18. The company has a market cap of $1.06 billion, a PE ratio of 6.41 and a beta of 2.08. Precision Drilling has a fifty-two week low of $41.56 and a fifty-two week high of $77.21.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.12). The business had revenue of $391.51 million during the quarter, compared to analyst estimates of $399.44 million. Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. Sell-side analysts anticipate that Precision Drilling will post 6.49 earnings per share for the current year.

Institutional Trading of Precision Drilling

A number of institutional investors have recently added to or reduced their stakes in PDS. Wellington Management Group LLP acquired a new position in shares of Precision Drilling during the 3rd quarter valued at about $4,638,000. MQS Management LLC acquired a new position in Precision Drilling during the third quarter valued at approximately $297,000. Ninepoint Partners LP bought a new position in shares of Precision Drilling in the fourth quarter valued at approximately $74,649,000. Acadian Asset Management LLC lifted its stake in shares of Precision Drilling by 95.0% in the third quarter. Acadian Asset Management LLC now owns 466,048 shares of the oil and gas company’s stock worth $31,344,000 after buying an additional 227,077 shares during the last quarter. Finally, Greatmark Investment Partners Inc. lifted its stake in shares of Precision Drilling by 25.1% in the fourth quarter. Greatmark Investment Partners Inc. now owns 59,627 shares of the oil and gas company’s stock worth $3,237,000 after buying an additional 11,955 shares during the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.

About Precision Drilling

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 through Contract Drilling Services and Completion and Production Services segments.