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

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

Separately, TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd.

Precision Drilling Stock Down 5.4 %

Precision Drilling stock opened at $43.94 on Friday. The stock’s 50 day moving average price is $57.79 and its 200 day moving average price is $61.09. Precision Drilling has a 1-year low of $43.35 and a 1-year high of $79.07. The company has a market cap of $602.34 million, a PE ratio of 8.17 and a beta of 2.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted 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 net margin of 5.87% and a return on equity of 6.72%. On average, sell-side analysts predict that Precision Drilling will post 7.1 EPS for the current fiscal year.

Institutional Trading of Precision Drilling

Several large investors have recently added to or reduced their stakes in PDS. National Bank of Canada FI increased its stake in Precision Drilling by 0.5% during the 4th quarter. National Bank of Canada FI now owns 729,626 shares of the oil and gas company’s stock worth $44,673,000 after buying an additional 3,342 shares during the period. Bank of Montreal Can raised its stake in Precision Drilling by 28.0% during the fourth quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company’s stock valued at $36,832,000 after buying an additional 131,843 shares in the last quarter. Bank of America Corp DE lifted its stake in Precision Drilling by 33.3% during the fourth quarter. Bank of America Corp DE now owns 396,072 shares of the oil and gas company’s stock worth $24,188,000 after purchasing an additional 98,836 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Precision Drilling by 12.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 265,254 shares of the oil and gas company’s stock worth $16,198,000 after buying an additional 29,612 shares during the last quarter. Finally, Millennium Management LLC lifted 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 worth $9,621,000 after acquiring an additional 110,546 shares during the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.

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.