DA Davidson Initiates Coverage on Precision Drilling Corp (USA) to Buy

DA Davidson Initiates Coverage on Precision Drilling Corp (USA)(NYSE:PDS). The shares have been rated Buy. The rating by DA Davidson was issued on Sep 15, 2016.

In a different note, On Sep 6, 2016, Jefferies said it Upgrades its rating on Precision Drilling Corp (USA). The shares have been rated ‘Hold’ by the firm. On Jul 11, 2016, Jefferies said it Maintains its rating on Precision Drilling Corp (USA). In the research note, the firm Raises the price-target to $3.00 per share. The shares have been rated ‘Underweight’ by the firm.

Precision Drilling Corp (USA) (PDS) shares turned negative on Tuesdays trading session with the shares closing down -0.12 points or -3.24% at a volume of 18,84,353. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.7. The peak price level was also seen at $3.7 while the days lowest was $3.56. Finally the shares closed at $3.58. The 52-week high of the shares is $6.08 while the 52-week low is $2.4301. According to the latest information available, the market cap of the company is $1,050 M.

Precision Drilling Corp (USA)(PDS) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $126.26M. Analysts had an estimated revenue of $172.69M. Earnings per share were $-0.15. Analysts had estimated an EPS of $-0.24.

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 Company’s 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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