Precision Drilling (NYSE:PDS) Reaches New 12-Month Low – Time to Sell?

Precision Drilling Co. (NYSE:PDS) (TSE:PD) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $42.22 and last traded at $41.18, with a volume of 552 shares. The stock had previously closed at $43.89.

Analyst Ratings Changes

Several brokerages recently issued reports on PDS. StockNews.com lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. TD Securities downgraded shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd.

Precision Drilling Price Performance

The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48. The stock has a market cap of $536.11 million, a P/E ratio of 7.36 and a beta of 1.53. The firm has a 50 day moving average price of $50.56 and a 200 day moving average price of $58.10.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Precision Drilling by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock worth $425,000 after buying an additional 424 shares in the last quarter. Mountain Lake Investment Management LLC grew its position in shares of Precision Drilling by 107.9% during the fourth quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock worth $3,174,000 after purchasing an additional 26,981 shares in the last quarter. Franklin Resources Inc. raised its stake in Precision Drilling by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock valued at $3,961,000 after purchasing an additional 11,331 shares during the period. National Bank of Canada FI lifted its holdings in Precision Drilling by 1.4% in the 3rd quarter. National Bank of Canada FI now owns 726,284 shares of the oil and gas company’s stock worth $44,740,000 after purchasing an additional 10,318 shares in the last quarter. Finally, Greatmark Investment Partners Inc. boosted its stake in Precision Drilling by 9.0% in the 4th quarter. Greatmark Investment Partners Inc. now owns 91,601 shares of the oil and gas company’s stock worth $5,594,000 after purchasing an additional 7,540 shares during the period. Hedge funds and other institutional investors own 48.86% of the company’s stock.

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.