Precision Drilling Corporation with ticker code (PDS) now have 7 analysts covering the stock. The analyst consensus points to a rating of ‘Buy’. The target price ranges between 61.16 and 44.7 and has a mean target at 52.55. Given that the stocks previous close was at 58.3 this now indicates there is a potential downside of -9.9%. The day 50 moving average is 40.37 and the 200 moving average now moves to 37.44. The company has a market cap of $770m. Company Website: https://www.precisiondrilling.com
The potential market cap would be $694m based on the market concensus.
Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related products and services in North America and the Middle East. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry. This segment’s services include land drilling, directional drilling, and turnkey drilling; and procurement and distribution of oilfield supplies, as well as manufacture, sale, and repair of drilling equipment. As of December 31, 2020, it operated 227 land drilling rigs, including 109 in Canada; 105 in the United States; 6 in Kuwait; 4 in Saudi Arabia; 2 in the Kurdistan region of Iraq; and 1 in the country of Georgia. The Completion and Production Services segment provides service rigs for well completion, workover, abandonment, maintenance, and re-entry preparation services; wellsite accommodations; oilfield surface equipment rentals; and camp and catering services to oil and natural gas exploration and production companies. This segment operated 123 well completion and workover service rigs, including 113 in Canada and 10 in the United States. It also had approximately 1,400 oilfield rental items, including surface storage, small-flow wastewater treatment, power generation, and solids control equipment; 113 wellsite accommodation units; 966 drill camp beds; 822 base camp beds; and three kitchen diners in Canada. Precision Drilling Corporation was incorporated in 1951 and is headquartered in Calgary, Canada.
