Precision Drilling (NYSE:PDS) Shares Gap Down – Time to Sell?

Precision Drilling Co. (NYSE:PDS) (TSE:PD) shares gapped down prior to trading 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 traded.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. StockNews.com downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Raymond James cut Precision Drilling from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday.

Precision Drilling Price Performance

The business’s 50-day moving average price is $48.34 and its 200 day moving average price is $57.11. 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 company has a market capitalization of $575.52 million, a P/E ratio of 7.90 and a beta of 1.53.

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

Institutional Trading of Precision Drilling

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in Precision Drilling by 6.6% in the third quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock valued at $425,000 after purchasing an additional 424 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Precision Drilling by 3,575.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company’s stock valued at $9,395,000 after buying an additional 149,616 shares in the last quarter. Mountain Lake Investment Management LLC lifted its holdings in shares of Precision Drilling by 107.9% during the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock worth $3,174,000 after acquiring an additional 26,981 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 worth $3,961,000 after acquiring an additional 11,331 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in 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 acquiring an additional 2,125 shares in 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.