BMO Capital Markets Reaffirms Buy Rating for Precision Drilling (PDS)

BMO Capital Markets reaffirmed their buy rating on shares of Precision Drilling (NYSE:PDS) (TSE:PD) in a report issued on Friday morning.

Several other research firms also recently issued reports on PDS. Canaccord Genuity raised Precision Drilling from a hold rating to a buy rating in a research note on Friday, November 9th. Scotiabank downgraded Precision Drilling from a sector perform rating to an underperform rating in a research note on Thursday, November 29th. Raymond James reaffirmed a buy rating on shares of Precision Drilling in a research note on Tuesday, October 30th. Zacks Investment Research raised Precision Drilling from a sell rating to a hold rating in a research note on Saturday. Finally, ValuEngine downgraded Precision Drilling from a hold rating to a sell rating in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Precision Drilling currently has an average rating of Buy and a consensus target price of $4.40.

NYSE:PDS opened at $2.45 on Friday. The firm has a market cap of $719.76 million, a PE ratio of -8.75 and a beta of 2.35. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.85 and a quick ratio of 1.73. Precision Drilling has a 52-week low of $1.62 and a 52-week high of $4.14.

A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in Precision Drilling during the 4th quarter worth about $40,000. Legal & General Group Plc increased its position in Precision Drilling by 8.1% during the 4th quarter. Legal & General Group Plc now owns 354,187 shares of the oil and gas company’s stock worth $615,000 after purchasing an additional 26,626 shares in the last quarter. Jane Street Group LLC increased its position in Precision Drilling by 230.9% during the 4th quarter. Jane Street Group LLC now owns 88,596 shares of the oil and gas company’s stock worth $154,000 after purchasing an additional 61,822 shares in the last quarter. Gotham Asset Management LLC increased its position in Precision Drilling by 3.2% during the 4th quarter. Gotham Asset Management LLC now owns 316,140 shares of the oil and gas company’s stock worth $550,000 after purchasing an additional 9,878 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in Precision Drilling by 455.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 82,639 shares of the oil and gas company’s stock worth $144,000 after purchasing an additional 67,773 shares in the last quarter. Hedge funds and other institutional investors own 47.92% 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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Analyst Recommendations for Precision Drilling (NYSE:PDS)

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