Eric Nuttall's Top Picks: November 22, 2023 [BNN Bloomberg (Canada)]
Precision Drilling Corporation (PDS)
Last precision drilling corporation earnings: 4/30 06:00 am
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US:NYSE Investor Relations:
precisiondrilling.com/investor-relations/default.aspx
Company Research
Source: BNN Bloomberg
Energy investors have ridden the rollercoaster of volatility this year, contending with relentless worries of recession, a Whitehouse seemingly determined to do whatever it takes to lower the oil price, and surprisingly high non-OPEC production growth (U.S. and Russia). Inventories have fallen significantly this year, but not as aggressively as initially thought owing to U.S., Russian, and Iranian production growing more than expected despite demand growth of around 2.4 million barrels per day. Looking to 2024, we see ongoing demand growth albeit at a moderated pace (one to 1.5 million barrels per day) and more moderate non-OPEC production growth, leading to global oil inventories that should continue to fall. Given ample OPEC spare capacity for the next year or two, we see little chance of oil trading meaningfully above US$100 West Texas Intermediate (WTI), though given global oil inventories currently sit at multi, multi-year lows, we do see a strong fundamental floor of around $80
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PDS
News
- Precision Drilling (NYSE:PDS) (TSE:PD) had its "overweight" rating reaffirmed by analysts at Piper Sandler.MarketBeat
- Precision Drilling (NYSE:PDS) (TSE:PD) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating.MarketBeat
- Precision Drilling (NYSE:PDS) (TSE:PD) was upgraded by analysts at Atb Cap Markets to a "strong-buy" rating.MarketBeat
- Precision Drilling (NYSE:PDS) (TSE:PD) had its "hold (c-)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Precision Drilling (NYSE:PDS) (TSE:PD) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating.MarketBeat
PDS
Earnings
- 10/22/25 - Miss
PDS
Sec Filings
- 10/24/25 - Form 6-K
- 10/23/25 - Form 6-K
- 10/23/25 - Form 6-K
- PDS's page on the SEC website