Precision Drilling Co. (NYSE:PDS) Sees Large Growth in Short Interest

Precision Drilling Co. (NYSE:PDS) (TSE:PD) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 267,700 shares, a growth of 18.1% from the February 13th total of 226,700 shares. Based on an average daily trading volume, of 96,200 shares, the short-interest ratio is presently 2.8 days. Approximately 2.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Precision Drilling from a “hold” rating to a “buy” rating in a report on Sunday. TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd.

Precision Drilling Stock Performance

Shares of NYSE:PDS traded up $0.92 on Wednesday, reaching $45.42. The company’s stock had a trading volume of 34,890 shares, compared to its average volume of 70,577. The stock’s 50-day moving average is $55.53 and its two-hundred day moving average is $59.88. Precision Drilling has a 52-week low of $43.00 and a 52-week high of $79.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. The stock has a market capitalization of $622.62 million, a P/E ratio of 8.44 and a beta of 2.05.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Precision Drilling will post 7.1 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Precision Drilling by 56.6% during the third quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 218 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Precision Drilling during the fourth quarter worth about $71,000. Deutsche Bank AG purchased a new position in Precision Drilling during the fourth quarter worth about $85,000. Signaturefd LLC increased its holdings in Precision Drilling by 30.1% in the fourth quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock valued at $132,000 after buying an additional 499 shares in the last quarter. 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 valued at $137,000 after acquiring an additional 2,125 shares during the period. 48.86% of the stock is owned by hedge funds and other institutional investors.

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.