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 research note published on Thursday morning. The firm 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.

Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Precision Drilling from a sell rating to a strong sell rating in a report on Friday, February 2nd. Zacks Investment Research lowered shares of Precision Drilling from a buy rating to a hold rating in a report on Friday, January 5th. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a $3.40 target price (up previously from $3.00) on shares of Precision Drilling in a report on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Precision Drilling presently has a consensus rating of Hold and a consensus target price of $4.36.

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Shares of PDS stock opened at $2.79 on Thursday. 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 current ratio of 2.11 and a quick ratio of 1.99.

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

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in Precision Drilling by 178.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,572 shares of the oil and gas company’s stock worth $120,000 after acquiring an additional 20,234 shares during the last quarter. Cushing Asset Management LP bought a new stake in Precision Drilling during the 4th quarter worth about $227,000. Jane Street Group LLC bought a new stake in Precision Drilling during the 3rd quarter worth about $406,000. Virtu Financial LLC grew its holdings in Precision Drilling by 106.7% during the 4th quarter. Virtu Financial LLC now owns 193,439 shares of the oil and gas company’s stock worth $584,000 after acquiring an additional 99,839 shares during the last quarter. Finally, Credit Capital Investments LLC grew its holdings in Precision Drilling by 1,993.2% during the 4th quarter. Credit Capital Investments LLC now owns 209,322 shares of the oil and gas company’s stock worth $632,000 after acquiring an additional 199,322 shares during the last quarter. 45.77% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Precision Drilling (NYSE:PDS)

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