Deutsche Bank AG Begins Coverage on Precision Drilling Corporation (PDS)

Equities research analysts at Deutsche Bank AG began coverage on shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the oil and gas company’s stock.

Several other research firms have also issued reports on PDS. BidaskClub raised shares of Precision Drilling Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Piper Jaffray Companies lowered shares of Precision Drilling Corporation from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $5.00 to $3.25 in a research report on Thursday, June 29th. Morgan Stanley lowered shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $9.00 to $4.50 in a research report on Wednesday, June 21st. Zacks Investment Research lowered shares of Precision Drilling Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Finally, Raymond James Financial, Inc. raised shares of Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $6.18.

Precision Drilling Corporation (NYSE:PDS) opened at 2.77 on Tuesday. Precision Drilling Corporation has a 1-year low of $2.38 and a 1-year high of $6.25. The firm’s market cap is $812.27 million. The firm has a 50 day moving average of $2.79 and a 200 day moving average of $3.41.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. The company had revenue of $275.52 million during the quarter, compared to analyst estimates of $271.33 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. The business’s quarterly revenue was up 68.0% compared to the same quarter last year. On average, equities research analysts expect that Precision Drilling Corporation will post ($0.32) EPS for the current year.

WARNING: “Deutsche Bank AG Begins Coverage on Precision Drilling Corporation (PDS)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/10/deutsche-bank-ag-begins-coverage-on-precision-drilling-corporation-pds.html.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new stake in Precision Drilling Corporation during the 1st quarter valued at $306,000. Wellington Management Group LLP grew its holdings in Precision Drilling Corporation by 21.9% during the 1st quarter. Wellington Management Group LLP now owns 3,221,710 shares of the oil and gas company’s stock valued at $15,194,000 after purchasing an additional 578,133 shares in the last quarter. Legal & General Group Plc grew its holdings in Precision Drilling Corporation by 0.8% during the 1st quarter. Legal & General Group Plc now owns 455,424 shares of the oil and gas company’s stock valued at $2,146,000 after purchasing an additional 3,566 shares in the last quarter. AGF Investments Inc. grew

Several other research firms have also issued reports on PDS. BidaskClub raised shares of Precision Drilling Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Piper Jaffray Companies lowered shares of Precision Drilling Corporation from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $5.00 to $3.25 in a research report on Thursday, June 29th. Morgan Stanley lowered shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $9.00 to $4.50 in a research report on Wednesday, June 21st. Zacks Investment Research lowered shares of Precision Drilling Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Finally, Raymond James Financial, Inc. raised shares of Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $6.18.

Precision Drilling Corporation (NYSE:PDS) opened at 2.77 on Tuesday. Precision Drilling Corporation has a 1-year low of $2.38 and a 1-year high of $6.25. The firm’s market cap is $812.27 million. The firm has a 50 day moving average of $2.79 and a 200 day moving average of $3.41.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. The company had revenue of $275.52 million during the quarter, compared to analyst estimates of $271.33 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. The business’s quarterly revenue was up 68.0% compared to the same quarter last year. On average, equities research analysts expect that Precision Drilling Corporation will post ($0.32) EPS for the current year.

WARNING: “Deutsche Bank AG Begins Coverage on Precision Drilling Corporation (PDS)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/10/deutsche-bank-ag-begins-coverage-on-precision-drilling-corporation-pds.html.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new stake in Precision Drilling Corporation during the 1st quarter valued at $306,000. Wellington Management Group LLP grew its holdings in Precision Drilling Corporation by 21.9% during the 1st quarter. Wellington Management Group LLP now owns 3,221,710 shares of the oil and gas company’s stock valued at $15,194,000 after purchasing an additional 578,133 shares in the last quarter. Legal & General Group Plc grew its holdings in Precision Drilling Corporation by 0.8% during the 1st quarter. Legal & General Group Plc now owns 455,424 shares of the oil and gas company’s stock valued at $2,146,000 after purchasing an additional 3,566 shares in the last quarter. AGF Investments Inc. grew its holdings in Precision Drilling Corporation by 13.4% during the 2nd quarter. AGF Investments Inc. now owns 1,537,291 shares of the oil and gas company’s stock valued at $5,254,000 after purchasing an additional 181,654 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Precision Drilling Corporation by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 5,660,730 shares of the oil and gas company’s stock valued at $26,719,000 after purchasing an additional 340,141 shares in the last quarter. 61.43% of the stock is owned by institutional investors and hedge funds.

About Precision Drilling Corporation

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

Analyst Recommendations for Precision Drilling Corporation (NYSE:PDS)

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