Precision Drilling (NYSE:PDS) Rating Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Separately, TD Securities lowered Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd.

Precision Drilling Stock Performance

PDS opened at $54.68 on Friday. The firm has a market capitalization of $753.42 million, a P/E ratio of 4.62 and a beta of 1.91. The stock’s 50 day moving average price is $60.55 and its two-hundred day moving average price is $63.40. The company has a quick ratio of 1.41, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. Precision Drilling has a 12-month low of $53.31 and a 12-month high of $79.07.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.64). Precision Drilling had a net margin of 12.52% and a return on equity of 10.06%. On average, equities analysts forecast that Precision Drilling will post 6.03 earnings per share for the current year.

Institutional Trading of Precision Drilling

Hedge funds have recently modified their holdings of the company. US Bancorp DE lifted its position in shares of Precision Drilling by 56.6% in the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 218 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of Precision Drilling in the 4th quarter worth approximately $71,000. Signaturefd LLC lifted its position in shares of Precision Drilling by 19.9% in the 3rd quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 276 shares during the period. Blue Trust Inc. lifted its position in shares of Precision Drilling by 283.7% in the 3rd quarter. Blue Trust Inc. now owns 2,003 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 1,481 shares during the period. Finally, Quantbot Technologies LP lifted its position in shares of Precision Drilling by 1,741.8% during the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock worth $137,000 after buying an additional 2,125 shares during the period. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.