Precision Drilling (NYSE:PDS) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a hold rating to a buy rating in a report released on Sunday.

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 Up 2.9 %

NYSE:PDS opened at $44.64 on Friday. Precision Drilling has a one year low of $43.00 and a one year high of $79.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48. The firm has a market cap of $611.97 million, a P/E ratio of 8.30 and a beta of 2.05. The firm has a 50-day simple moving average of $56.33 and a 200-day simple moving average of $60.27.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly 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 net margin of 5.87% and a return on equity of 6.72%. Equities analysts anticipate that Precision Drilling will post 7.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. National Bank of Canada FI raised its stake in shares of 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 acquiring an additional 3,342 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Precision Drilling by 28.0% during the 4th quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company’s stock worth $36,832,000 after acquiring an additional 131,843 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Precision Drilling by 33.3% during the 4th quarter. Bank of America Corp DE now owns 396,072 shares of the oil and gas company’s stock worth $24,188,000 after acquiring an additional 98,836 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Precision Drilling by 12.6% during 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 acquiring an additional 29,612 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Precision Drilling by 235.8% during the 4th 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 in the last quarter. Institutional investors own 48.86% of the company’s stock.

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.