Precision Drilling (NYSE:PDS) Shares Gap Down – Should You Sell?

Precision Drilling Co. (NYSE:PDS) (TSE:PD) shares gapped down before the market opened on Wednesday . The stock had previously closed at $38.04, but opened at $36.30. Precision Drilling shares last traded at $37.78, with a volume of 56,445 shares.

Analyst Ratings Changes

PDS has been the topic of several analyst reports. StockNews.com cut 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 report on Monday, February 3rd. Finally, Raymond James downgraded shares of Precision Drilling from a “strong-buy” rating to an “outperform” rating in a report on Wednesday.

Precision Drilling Stock Up 3.9 %

The stock has a 50-day moving average of $48.34 and a 200 day moving average of $57.11. The company has a market capitalization of $575.52 million, a PE ratio of 7.90 and a beta of 1.53. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (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%. Sell-side analysts anticipate that Precision Drilling Co. will post 7.1 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Precision Drilling by 2.2% in the 4th 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 worth $695,000 after purchasing an additional 250 shares during the period. Geode Capital Management LLC increased its position in Precision Drilling by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 7,285 shares of the oil and gas company’s stock worth $450,000 after buying an additional 418 shares during the last quarter. Signaturefd LLC increased its position in 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 buying an additional 499 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Precision Drilling by 4.5% in the fourth quarter. Jane Street Group LLC now owns 17,183 shares of the oil and gas company’s stock valued at $1,049,000 after buying an additional 743 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Precision Drilling by 10.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,477 shares of the oil and gas company’s stock valued at $518,000 after buying an additional 824 shares during the last quarter. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

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.