StockNews.com Downgrades Precision Drilling (NYSE:PDS) to Hold

Precision Drilling (NYSE:PDS) (TSE:PD) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

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 Price Performance

PDS opened at $46.90 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $639.95 million, a P/E ratio of 8.72 and a beta of 2.05. The stock has a 50-day moving average price of $53.67 and a 200-day moving average price of $59.09. Precision Drilling has a 12-month low of $43.00 and a 12-month high of $79.07.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share 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%. Equities analysts predict that Precision Drilling will post 7.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Precision Drilling

A number of hedge funds and other institutional investors have recently modified their holdings of PDS. Aquatic Capital Management LLC bought a new position in Precision Drilling during the 4th quarter worth approximately $71,000. Deutsche Bank AG bought a new position in shares of Precision Drilling in the fourth quarter worth approximately $85,000. Signaturefd LLC grew its holdings in shares of Precision Drilling by 30.1% in the fourth quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 499 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Precision Drilling by 1,741.8% in the fourth quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock worth $137,000 after buying an additional 2,125 shares during the period. Finally, Blue Trust Inc. raised its holdings in Precision Drilling by 64.7% during the 4th quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company’s stock valued at $203,000 after buying an additional 1,295 shares during the last quarter. 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.