Precision Drilling (NYSE:PDS) Reaches New 52-Week Low – Here’s What Happened

Precision Drilling Co. (NYSE:PDS) (TSE:PD) reached a new 52-week low on Monday . The company traded as low as $43.35 and last traded at $43.94, with a volume of 127568 shares. The stock had previously closed at $46.44.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PDS. StockNews.com lowered Precision Drilling from a “buy” rating to a “hold” rating in a research note on Saturday. TD Securities lowered shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd.

Precision Drilling Price Performance

The company’s 50 day simple moving average is $57.79 and its 200 day simple moving average is $61.09. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $602.34 million, a PE ratio of 8.17 and a beta of 2.05.

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 for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. On average, equities analysts anticipate that Precision Drilling Co. will post 7.1 earnings per share for the current year.

Institutional Investors Weigh In On Precision Drilling

Several hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Precision Drilling by 2.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,388 shares of the oil and gas company’s stock worth $695,000 after purchasing an additional 250 shares during the period. SG Capital Management LLC acquired a new stake in shares of Precision Drilling during the 4th quarter worth $1,779,000. SIR Capital Management L.P. raised its position in shares of Precision Drilling by 10.3% in the 4th quarter. SIR Capital Management L.P. now owns 130,078 shares of the oil and gas company’s stock worth $7,955,000 after buying an additional 12,100 shares during the period. Millennium Management LLC boosted its holdings in Precision Drilling by 235.8% in the fourth quarter. Millennium Management LLC now owns 157,433 shares of the oil and gas company’s stock valued at $9,621,000 after acquiring an additional 110,546 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in Precision Drilling during the fourth quarter valued at about $346,000. 48.86% of the stock is owned by institutional investors and hedge funds.

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.