Brokerages Set Precision Drilling Corp (NYSE:PDS) PT at $3.65

Precision Drilling Corp (NYSE:PDS) (TSE:PD) has been given an average rating of “Buy” by the sixteen research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $3.65.

PDS has been the subject of a number of recent analyst reports. Raymond James reiterated a “buy” rating on shares of Precision Drilling in a research report on Wednesday, June 5th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. AltaCorp Capital reiterated a “sector perform” rating on shares of STEP Energy Services in a research report on Thursday, June 20th. Morgan Stanley set a $207.00 price target on shares of Alibaba Group and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, BMO Capital Markets set a $32.00 price target on shares of Axalta Coating Systems and gave the stock a “hold” rating in a research report on Friday, April 26th.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Foundation Resource Management Inc. grew its holdings in Precision Drilling by 1.1% during the 2nd quarter. Foundation Resource Management Inc. now owns 529,167 shares of the oil and gas company’s stock worth $1,000,000 after acquiring an additional 5,985 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Precision Drilling during the 1st quarter worth about $173,000. Marshall Wace LLP bought a new position in Precision Drilling during the 1st quarter worth about $36,000. Evergreen Capital Management LLC bought a new position in Precision Drilling during the 1st quarter worth about $54,000. Finally, Fiera Capital Corp boosted its holdings in shares of Precision Drilling by 1.3% in the 1st quarter. Fiera Capital Corp now owns 6,203,750 shares of the oil and gas company’s stock valued at $14,712,000 after buying an additional 80,300 shares in the last quarter. Institutional investors and hedge funds own 43.37% of the company’s stock.

PDS stock traded up $0.02 during midday trading on Tuesday, reaching $1.70. 433,806 shares of the company’s stock traded hands, compared to its average volume of 698,665. Precision Drilling has a 52-week low of $1.62 and a 52-week high of $4.12. The company has a current ratio of 2.11, a quick ratio of 1.99 and a debt-to-equity ratio of 1.08. The stock’s 50-day moving average is $1.81.

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.

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Analyst Recommendations for Precision Drilling (NYSE:PDS)

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