Precision Drilling Corporation (PDS) Rating Increased to Overweight at J P Morgan Chase & Co

Precision Drilling Corporation (PDS) Rating Increased to Overweight at J P Morgan Chase & Co

J P Morgan Chase & Co upgraded shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) from a neutral rating to an overweight rating in a research note published on Friday morning.

Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Precision Drilling Corporation from a hold rating to a buy rating and set a $6.50 price target on the stock in a research note on Wednesday, January 25th. Deutsche Bank AG upgraded shares of Precision Drilling Corporation from a hold rating to a buy rating and set a $10.00 target price on the stock in a report on Thursday, January 19th. Raymond James Financial, Inc. cut shares of Precision Drilling Corporation from a market perform rating to an underperform rating in a report on Thursday, January 12th. Piper Jaffray Companies upgraded shares of Precision Drilling Corporation from a neutral rating to an overweight rating and set a $7.00 target price on the stock in a report on Friday, January 6th. Finally, Credit Suisse Group upgraded shares of Precision Drilling Corporation from an underperform rating to a neutral rating and raised their target price for the stock from $4.25 to $6.00 in a report on Wednesday, January 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Precision Drilling Corporation currently has an average rating of Buy and a consensus price target of $6.37.

Precision Drilling Corporation (NYSE:PDS) opened at 5.49 on Friday. The firm’s 50-day moving average is $5.65 and its 200 day moving average is $4.82. The firm’s market cap is $1.61 billion. Precision Drilling Corporation has a 12-month low of $2.45 and a 12-month high of $6.25.

A number of institutional investors have recently made changes to their positions in the stock. Signia Capital Management LLC purchased a new position in Precision Drilling Corporation during the fourth quarter worth $722,000. HBK Investments L P raised its position in Precision Drilling Corporation by 3.7% in the third quarter. HBK Investments L P now owns 402,500 shares of the company’s stock worth $1,682,000 after buying an additional 14,336 shares in the last quarter. 1832 Asset Management L.P. raised its position in Precision Drilling Corporation by 130.1% in the third quarter. 1832 Asset Management L.P. now owns 22,016,410 shares of the company’s stock worth $91,968,000 after buying an additional 12,446,668 shares in the last quarter. Creative Planning raised its position in Precision Drilling Corporation by 326.0% in the third quarter. Creative Planning now owns 25,025 shares of the company’s stock worth $105,000 after buying an additional 19,150 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Precision Drilling Corporation by 72.2% in the third quarter. Canada Pension Plan Investment Board now owns 1,525,900 shares of the company’s stock worth $6,363,000 after buying an additional 639,600 shares in the last quarter. 72.98% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Corporation Company Profile

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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