Precision Drilling (NYSE:PDS) Reaches New 1-Year Low – Here’s Why

Precision Drilling Co. (NYSE:PDS) (TSE:PD)’s stock price 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 changing hands. The stock had previously closed at $46.44.

Wall Street Analyst Weigh In

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

Precision Drilling Stock Up 1.3 %

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 $609.59 million, a price-to-earnings ratio of 8.27 and a beta of 2.05. The firm’s fifty day moving average is $57.11 and its 200-day moving average is $60.78.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Co. will post 7.1 earnings per share for the current year.

Institutional Investors Weigh In On Precision Drilling

Institutional investors have recently made changes to their positions in the company. US Bancorp DE increased 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 valued at $37,000 after purchasing an additional 218 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Precision Drilling in the 3rd quarter valued at about $472,000. Northwest & Ethical Investments L.P. grew its position in shares of Precision Drilling by 22.0% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company’s stock valued at $207,000 after buying an additional 606 shares during the last quarter. PDT Partners LLC raised its stake in Precision Drilling by 182.8% during the third quarter. PDT Partners LLC now owns 8,264 shares of the oil and gas company’s stock worth $509,000 after acquiring an additional 5,342 shares during the period. Finally, Polar Asset Management Partners Inc. lifted its holdings in Precision Drilling by 111.1% in the third quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company’s stock worth $4,226,000 after acquiring an additional 36,100 shares during 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.