Precision Drilling (NYSE:PDS) (TSE:PD) – Stock analysts at Piper Jaffray issued their FY2019 earnings per share estimates for Precision Drilling in a report issued on Thursday, April 5th. Piper Jaffray analyst J. Daniel expects that the oil and gas company will earn $0.00 per share for the year. Piper Jaffray has a “Buy” rating and a $4.00 price objective on the stock.
Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Precision Drilling had a negative return on equity of 5.66% and a negative net margin of 10.29%. The company had revenue of $347.19 million for the quarter, compared to analyst estimates of $333.97 million. During the same quarter last year, the company posted ($0.10) EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year.
Shares of PDS opened at $2.79 on Friday. Precision Drilling has a 52-week low of $2.26 and a 52-week high of $5.09. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.99 and a current ratio of 2.11. The firm has a market capitalization of $788.81, a PE ratio of -9.96 and a beta of 1.89.
A number of hedge funds have recently modified their holdings of the stock. Letko Brosseau & Associates Inc. grew its position in Precision Drilling by 5.1% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 14,120,425 shares of the oil and gas company’s stock worth $42,938,000 after acquiring an additional 680,600 shares during the last quarter. Mackenzie Financial Corp grew its position in Precision Drilling by 12.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,939,377 shares of the oil and gas company’s stock worth $30,017,000 after acquiring an additional 1,113,700 shares during the last quarter. Mountain Lake Investment Management LLC grew its position in shares of Precision Drilling by 747.5% in the 4th quarter. Mountain Lake Investment Management LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $7,550,000 after buying an additional 2,205,000 shares during the last quarter. AGF Investments Inc. grew its position in shares of Precision Drilling by 17.2% in the 4th quarter. AGF Investments Inc. now owns 2,193,691 shares of the oil and gas company’s stock valued at $6,649,000 after buying an additional 322,400 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Precision Drilling by 192.1% in the 4th quarter. Schroder Investment Management Group now owns 1,990,500 shares of the oil and gas company’s stock valued at $7,584,000 after buying an additional 1,309,100 shares during the last quarter. Institutional investors and hedge funds own 45.77% of the company’s stock.
About Precision Drilling
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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