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

StockNews.com downgraded shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a buy rating to a hold rating in a research report released on Monday.

Separately, 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 Stock Performance

NYSE PDS opened at $47.07 on Monday. Precision Drilling has a fifty-two week low of $43.00 and a fifty-two week high of $79.07. The stock has a market cap of $642.20 million, a PE ratio of 8.75 and a beta of 2.05. 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’s fifty day moving average price is $53.29 and its two-hundred day moving average price is $59.01.

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

Institutional Investors Weigh In On Precision Drilling

A number of institutional investors have recently made changes to their positions in PDS. Northwest & Ethical Investments L.P. raised its position in shares of Precision Drilling by 22.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company’s stock worth $207,000 after acquiring an additional 606 shares during the last quarter. PDT Partners LLC raised its holdings in Precision Drilling by 182.8% during the 3rd quarter. PDT Partners LLC now owns 8,264 shares of the oil and gas company’s stock worth $509,000 after purchasing an additional 5,342 shares during the last quarter. Polar Asset Management Partners Inc. lifted its position in shares of Precision Drilling by 111.1% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company’s stock worth $4,226,000 after purchasing an additional 36,100 shares during the period. Virtus Investment Advisers Inc. bought a new stake in shares of Precision Drilling in the 3rd quarter valued at $237,000. Finally, Jane Street Group LLC increased its position in shares of Precision Drilling by 73.5% during the third quarter. Jane Street Group LLC now owns 16,440 shares of the oil and gas company’s stock worth $1,014,000 after buying an additional 6,967 shares during the period. 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.