Analyst Rating Update on Precision Drilling Corporation (PDS)

Precision Drilling Corporation (PDS) : 3 brokerage houses believe that Precision Drilling Corporation (PDS) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 6 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Precision Drilling Corporation (PDS). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 11 Wall Street Analysts endorse the stock as a Buy with a rating of 2.45.

Precision Drilling Corporation (PDS) : The consensus price target for Precision Drilling Corporation (PDS) is $5.37 for the short term with a standard deviation of $1.61. The most optimist securities analyst among the 11 who monitor the stock believes that the stock can reach $9, however, the pessimist price target for the company is $3.

Company shares have received an average consensus rating of Hold for the current week Also, Jefferies maintains its view on Precision Drilling Corporation (NYSE:PDS) according to the research report released by the firm to its investors. The shares have now been rated Underweight by the stock experts at the ratings house. Jefferies raises the price target from $3 per share to $4 per share on Precision Drilling Corporation. The rating by the firm was issued on July 11, 2016.


Precision Drilling Corporation (NYSE:PDS): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.23 and $4.15 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $4.54. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.52, notching a gain of 6.86% for the day. The total traded volume was 3,078,240 . The stock had closed at $4.23 on the previous day.

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides contract drilling, well servicing and strategic support services to customers. It provides customers with access to a fleet of contract drilling rigs, directional drilling services, well service and snubbing rigs, coiled tubing services, camps, rental equipment, and water treatment units backed by a mix of technical support services. The Company provides the equipment, personnel and support services, which enables drill, complete and workover onshore wells for conventional and unconventional crude oil and natural gas exploration and production. The Companys service lines include Drilling Rigs (Canada), Drilling Rigs (United States), Drilling Rigs (International), Directional Drilling (Canada and United States), Rig Builds and Repair Turnkey Drilling Services, Oilfield Supplies (Canada and United States) and Oilfield Equipment Rentals, among others.

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