Precision Drilling Corp (NYSE:PDS) (TSE:PD) – Research analysts at Jefferies Financial Group lowered their FY2020 earnings estimates for shares of Precision Drilling in a report released on Monday, April 29th, Zacks Investment Research reports. Jefferies Financial Group analyst B. Handler now anticipates that the oil and gas company will post earnings per share of $0.04 for the year, down from their previous forecast of $0.07. Jefferies Financial Group has a “Hold” rating and a $2.60 price objective on the stock. Jefferies Financial Group also issued estimates for Precision Drilling’s FY2021 earnings at $0.33 EPS.
A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded Precision Drilling from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. BMO Capital Markets reissued a “buy” rating on shares of Precision Drilling in a report on Friday, April 26th. Raymond James reissued a “buy” rating on shares of Precision Drilling in a report on Friday, April 26th. National Bank Financial reissued a “buy” rating on shares of Precision Drilling in a report on Tuesday, March 19th. Finally, CIBC reissued a “buy” rating on shares of Precision Drilling in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $3.92.
Shares of PDS stock opened at $2.28 on Tuesday. Precision Drilling has a 1-year low of $1.62 and a 1-year high of $4.14. The stock has a market cap of $675.70 million, a P/E ratio of -8.77 and a beta of 2.27. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.99 and a current ratio of 2.11.
A number of hedge funds and other institutional investors have recently modified their holdings of PDS. Millennium Management LLC bought a new stake in Precision Drilling in the fourth quarter worth $40,000. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Precision Drilling by 174.7% during the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 31,450 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 20,000 shares during the period. Creative Planning purchased a new position in shares of Precision Drilling in the 1st quarter valued at about $65,000. Virtu Financial LLC purchased a new position in shares of Precision Drilling in the 1st quarter valued at about $141,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Precision Drilling by 455.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 82,639 shares of the oil and gas company’s stock valued at $144,000 after acquiring an additional 67,773 shares during the last quarter. 47.35% of the stock is owned by institutional investors and hedge funds.
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.