Precision Drilling Corp (USA) (NYSE:PDS) Receives “Outperform” Rating On The Stock


Dallas, Texas 11/04/2013 (Financialstrend) – Cowen and Company raised the PT of Precision Drilling Corp (USA) (NYSE:PDS) from C$12.00 to C$13.00 on Monday and has currently assigned an “outperform” rating on the stock.

Numerous other analysts have recently weighed on the stock. RBC Capital analysts reiterated their “outperform” rating on the company’s shares on 25 October and have set a PT of $13.00 on the stock. Scotiabank analysts have upped their PT on Precision Drilling Corp (USA) (NYSE:PDS) from $12.00 to $13.00 on 22 October 22nd.

FirstEnergy Capital analysts downgraded the company’s shares to a “market-perform” rating on 21 October. Eight research-analysts have rated the Precision Drilling Corp (USA) (NYSE:PDS) stock with a “hold” rating and 6have assigned a “buy” rating to the stock. The average rating on the company’s stock is currently a “hold” and the average PT is $11.85.

Friday’s trading

In Friday’s trading, Precision Drilling Corp (USA) (NYSE:PDS) dropped by 1.42%. The opening price of the shares was $10.61, which climbed to an intraday high of $10.63 and dipped to a close of $10.44. Approximately 0.823 million shares were traded on Friday while an average volume of 0.881 million shares were traded over a 30 day period. The 52-week low of Precision Drilling Corp (USA) (NYSE:PDS) shares is $6.64 and its 52-week high is $11.21. The company has a market capitalization of $2.89 billion.

About the company

Precision Drilling Corp (USA) (NYSE:PDS) is a provider of contract-drilling &completion and production-services mainly to oil & natural gas exploration & production companies in the United States and Canada. Precision Drilling Corp (USA) (NYSE:PDS) operates in 2 segments: 1- Contract Drilling Services, and 2- Completion and Production Services.

 In Canada, the company’s Contract Drilling Services segment covers land-drilling services, directional-drilling services, procurement & distribution of oilfield=supplies and the manufacture &refurbishment of drilling & service-rig equipment. The Completion & Production Services segment covers service rigs that are used in well completion.