Trade Report: Today, Precision Drilling Corp. (PDS) Rating Increased to Buy at Tudor Pickering

Today, Precision Drilling Corp. (PDS) Rating Increased to Buy at Tudor Pickering

Precision Drilling Corp. (NYSE:PDS) (TSE:PD) was upgraded by research analysts at Tudor Pickering from a “hold” rating to a “buy” rating in a report released on Tuesday, The Fly reports.

PDS has been the subject of several other reports. RBC Capital Markets restated an “outperform” rating and set a $8.00 price objective on shares of Precision Drilling Corp. in a research report on Monday, October 24th. Scotiabank upgraded Precision Drilling Corp. from an “underperform” rating to a “sector perform” rating in a research report on Monday, October 24th. Canaccord Genuity restated a “hold” rating and set a $7.25 price objective (up from $6.75) on shares of Precision Drilling Corp. in a research report on Monday, October 24th. Zacks Investment Research upgraded Precision Drilling Corp. from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research report on Thursday, October 20th. Finally, TD Securities restated a “buy” rating and set a $8.00 price objective on shares of Precision Drilling Corp. in a research report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $5.66.

Precision Drilling Corp. (NYSE:PDS) opened at 4.61 on Tuesday. Precision Drilling Corp. has a 12-month low of $2.43 and a 12-month high of $6.08. The stock’s market capitalization is $1.35 billion. The firm’s 50-day moving average is $4.62 and its 200 day moving average is $4.57.

Several large investors have recently made changes to their positions in PDS. Acadian Asset Management LLC acquired a new stake in shares of Precision Drilling Corp. during the second quarter valued at approximately $4,017,000. CIBC World Markets Inc. raised its stake in shares of Precision Drilling Corp. by 11.4% in the second quarter. CIBC World Markets Inc. now owns 393,407 shares of the company’s stock valued at $2,085,000 after buying an additional 40,363 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Precision Drilling Corp. by 14.1% in the second quarter. Shell Asset Management Co. now owns 34,700 shares of the company’s stock valued at $238,000 after buying an additional 4,300 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Precision Drilling Corp. by 28.6% in the second quarter. Bank of New York Mellon Corp now owns 69,323 shares of the company’s stock valued at $367,000 after buying an additional 15,403 shares during the last quarter. Finally, Princeton Alpha Management LP raised its stake in shares of Precision Drilling Corp. by 249.8% in the second quarter. Princeton Alpha Management LP now owns 97,656 shares of the company’s stock valued at $518,000 after buying an additional 69,736 shares during the last quarter. Institutional investors own 72.65% of the company’s stock.

About Precision Drilling Corp.

Precision Drilling Corporation (Precision) 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. It operates through two segments: Contract Drilling Services, and Completion and Production Services.

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