Precision Drilling (NYSE:PDS) Lowered to Hold Rating by StockNews.com

Precision Drilling (NYSE:PDS) (TSE:PD) was downgraded by stock 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 report on Monday, February 3rd.

Precision Drilling Stock Up 2.3 %

Precision Drilling stock traded up $1.06 during mid-day trading on Monday, reaching $46.04. 105,352 shares of the company were exchanged, compared to its average volume of 71,120. 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 $628.15 million, a P/E ratio of 8.56 and a beta of 2.05. The business has a fifty day moving average of $54.03 and a 200 day moving average of $59.22. 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 issued its quarterly earnings data 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%. Research analysts anticipate that Precision Drilling will post 7.1 earnings per share for the current fiscal year.

Institutional Trading of Precision Drilling

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in Precision Drilling by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 135,908 shares of the oil and gas company’s stock valued at $8,308,000 after buying an additional 2,200 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Precision Drilling by 2.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,388 shares of the oil and gas company’s stock valued at $695,000 after acquiring an additional 250 shares in the last quarter. SG Capital Management LLC purchased a new position in shares of Precision Drilling in the 4th quarter valued at approximately $1,779,000. SIR Capital Management L.P. boosted its stake in Precision Drilling by 10.3% in the 4th quarter. SIR Capital Management L.P. now owns 130,078 shares of the oil and gas company’s stock worth $7,955,000 after purchasing an additional 12,100 shares in the last quarter. Finally, Millennium Management LLC grew its position in 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 purchasing an additional 110,546 shares during the last quarter. Institutional investors and hedge funds 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.