Ratings Don’t Lie: Tudor Pickering Gives Precision Drilling (NYSE:PDS) Higher Rating. Lost Its “Hold” Rating

November 29, 2016 - By Vivian Park

Ratings Don't Lie:  Tudor Pickering Gives Precision Drilling (NYSE:PDS) Higher Rating. Lost Its

Precision Drilling (NYSE:PDS) Upgrade

In a analysts note sent to clients and investors on Tuesday morning, Tudor Pickering stated it was upgrading Precision Drilling (NYSE:PDS) stock from a “Hold” to a “Buy”.

Precision Drilling Corp (USA) (NYSE:PDS) Ratings Coverage

Out of 11 analysts covering Precision Drilling Corporation (NYSE:PDS), 5 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 45% are positive. $8.35 is the highest target while $2 is the lowest. The $5.63 average target is 24.56% above today’s ($4.52) stock price. Precision Drilling Corporation has been the topic of 20 analyst reports since July 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Precision Drilling Corp (USA) (NYSE:PDS) rating on Friday, October 23. RBC Capital Markets has “Outperform” rating and $7.50 price target. Raymond James downgraded the stock to “Market Perform” rating in Tuesday, February 2 report. Raymond James downgraded Precision Drilling Corp (USA) (NYSE:PDS) on Wednesday, April 20 to “Underperform” rating. The rating was initiated by Canaccord Genuity on Friday, January 29 with “Hold”. The firm has “Neutral” rating given on Monday, October 26 by Simmons & Co. The stock of Precision Drilling Corp (USA) (NYSE:PDS) has “Buy” rating given on Monday, March 21 by TD Securities. The stock of Precision Drilling Corp (USA) (NYSE:PDS) has “Underperform” rating given on Wednesday, June 1 by Credit Suisse. Jefferies upgraded the stock to “Hold” rating in Tuesday, September 6 report. The firm earned “Buy” rating on Saturday, August 22 by Evercore. The firm has “Buy” rating given on Thursday, September 15 by DA Davidson.

About 1.41M shares traded hands. Precision Drilling Corp (USA) (NYSE:PDS) has declined 2.33% since April 26, 2016 and is downtrending. It has underperformed by 7.59% the S&P500.

Analysts await Precision Drilling Corp (USA) (NYSE:PDS) to report earnings on February, 9. They expect $-0.14 earnings per share, down 250.00% or $0.10 from last year’s $-0.04 per share. After $-0.13 actual earnings per share reported by Precision Drilling Corp (USA) for the previous quarter, Wall Street now forecasts 7.69% negative EPS growth.

Precision Drilling Corporation provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. The company has a market cap of $1.27 billion. It operates through two divisions: Contract Drilling Services, and Completion and Production Services. It currently has negative earnings. The Contract Drilling Services segment includes Drilling rig activities in Canada, the United States and international, and Directional drilling activities in Canada and the United States.

According to Zacks Investment Research, “Precision Drilling Corporation is an oilfield services company. The Company provides contract drilling, well servicing and strategic support services to the oil and gas industry in North America and internationally. It provides land drilling, directional drilling, turnkey drilling, camp and catering services, procures and distributes oilfield supplies. It also offers service rigs for well completion and workover services, snubbing services and wastewater treatment services, tubulars, well control equipment, wellsite accommodations. Precision Drilling Corporation is headquartered in Calgary, Canada.”

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