Precision Drilling (NYSE:PDS) Downgraded by StockNews.com to Hold

Precision Drilling (NYSE:PDS) (TSE:PD) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Separately, 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 Trading Down 1.9 %

Shares of PDS stock opened at $54.68 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 1.41. The business has a 50-day moving average of $60.55 and a 200 day moving average of $63.34. The stock has a market capitalization of $753.42 million, a PE ratio of 4.62 and a beta of 1.91. Precision Drilling has a 1-year low of $53.31 and a 1-year high of $79.07.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a return on equity of 10.06% and a net margin of 12.52%. As a group, sell-side analysts anticipate that Precision Drilling will post 6.03 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its stake in shares of Precision Drilling by 56.6% during the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 218 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Precision Drilling in the fourth quarter worth about $71,000. Signaturefd LLC boosted its position in Precision Drilling by 19.9% during the 3rd quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 276 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Precision Drilling by 283.7% during 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 raised its position in shares of Precision Drilling by 1,741.8% in the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 2,125 shares in the last quarter. 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.