Precision Drilling (NYSE:PDS) Reaches New 12-Month Low – What’s Next?

Precision Drilling Co. (NYSE:PDS) (TSE:PD)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $53.27 and last traded at $53.40, with a volume of 93355 shares trading hands. The stock had previously closed at $53.98.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PDS. StockNews.com cut Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. TD Securities lowered Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd.

Precision Drilling Stock Performance

The company’s 50-day moving average price is $59.93 and its 200 day moving average price is $62.74. The stock has a market capitalization of $732.01 million, a PE ratio of 9.93 and a beta of 1.91. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data 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 6.72% and a net margin of 5.87%. On average, equities research analysts expect that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Precision Drilling

Several hedge funds have recently made changes to their positions in PDS. Blue Trust Inc. boosted 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 valued at $123,000 after buying an additional 1,481 shares in the last quarter. Signaturefd LLC lifted 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 during the period. US Bancorp DE boosted its stake 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 acquiring an additional 218 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Precision Drilling in the third quarter worth about $472,000. Finally, Northwest & Ethical Investments L.P. increased its stake in shares of Precision Drilling by 22.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 606 shares in the last quarter. 48.86% of the stock is currently owned by institutional investors.

About Precision Drilling

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.