Precision Drilling (NYSE:PDS) Stock Price Up 3.2%

Precision Drilling Co. (NYSE:PDS) (TSE:PD) shares traded up 3.2% during trading on Tuesday . The stock traded as high as $63.62 and last traded at $63.62. 5,826 shares changed hands during trading, a decline of 91% from the average session volume of 66,436 shares. The stock had previously closed at $61.65.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PDS shares. Piper Sandler boosted their price objective on Precision Drilling from $95.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. StockNews.com raised shares of Precision Drilling from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

Precision Drilling Trading Up 1.6 %

The company’s 50 day simple moving average is $68.43 and its 200 day simple moving average is $69.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.51 and a quick ratio of 1.39. The firm has a market cap of $896.02 million, a price-to-earnings ratio of 5.40 and a beta of 1.97.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $1.44 earnings per share for the quarter, topping the consensus estimate of ($0.62) by $2.06. Precision Drilling had a return on equity of 9.26% and a net margin of 11.68%. The company had revenue of $429.20 million for the quarter, compared to the consensus estimate of $310.13 million. During the same quarter in the prior year, the business earned $1.21 EPS. Precision Drilling’s revenue was up .8% on a year-over-year basis. As a group, research analysts expect that Precision Drilling Co. will post 6.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PDS. Blue Trust Inc. raised its holdings in shares of Precision Drilling by 2,800.0% in the 2nd quarter. Blue Trust Inc. now owns 522 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 504 shares in the last quarter. Signaturefd LLC raised its stake in Precision Drilling by 32.6% in the second quarter. Signaturefd LLC now owns 1,384 shares of the oil and gas company’s stock valued at $97,000 after buying an additional 340 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Precision Drilling during the 2nd quarter worth about $210,000. Alberta Investment Management Corp acquired a new position in shares of Precision Drilling during the 4th quarter worth about $229,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Precision Drilling by 14.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,270 shares of the oil and gas company’s stock valued at $300,000 after acquiring an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 48.86% of the company’s stock.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.