According to The Fly, canaccord Genuity analyst John Bereznicki reiterated a Buy rating on Precision Drilling (PDS) on November 21. The company’s shares closed on Friday at $2.42, close to its 52-week low of $2.31.
According to TipRanks.com, Bereznicki is a 3-star analyst with an average return of 0.5% and a 44.1% success rate. Bereznicki covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Trinidad Drilling, and Gibson Energy Inc.
Currently, the analyst consensus on Precision Drilling is a Strong Buy with an average price target of $4.53, which is an 87.2% upside from current levels. In a report issued on November 8, GMP FirstEnergy also reiterated a Buy rating on the stock.
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Based on Precision Drilling’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $23.45 million. In comparison, last year the company had a GAAP net loss of $20.97 million.
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Precision Drilling Corp. provides onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the Contract Drilling Services; and Completion and Production Services segments. The Contract Drilling Services segment includes drilling rig, directional drilling, oilfield supply, and manufacturing divisions.
