Precision Drilling (NYSE:PDS) Downgraded to “Hold” Rating by 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 report published on Monday.

Separately, TD Securities downgraded Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd.

Precision Drilling Trading Up 2.3 %

NYSE PDS opened at $46.04 on Monday. Precision Drilling has a 52 week low of $43.00 and a 52 week high of $79.07. The firm has a 50 day moving average of $54.03 and a two-hundred day moving average of $59.22. The stock has a market capitalization of $628.15 million, a PE ratio of 8.56 and a beta of 2.05. 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 issued its 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 return on equity of 6.72% and a net margin of 5.87%. As a group, research analysts expect that Precision Drilling will post 7.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Precision Drilling

Several hedge funds and other institutional investors have recently bought and sold shares of PDS. National Bank of Canada FI boosted its stake in Precision Drilling by 0.5% in the fourth quarter. National Bank of Canada FI now owns 729,626 shares of the oil and gas company’s stock valued at $44,673,000 after acquiring an additional 3,342 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Precision Drilling by 28.0% in the 4th quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company’s stock valued at $36,832,000 after purchasing an additional 131,843 shares during the period. Bank of America Corp DE boosted its position in shares of Precision Drilling by 33.3% in the 4th quarter. Bank of America Corp DE now owns 396,072 shares of the oil and gas company’s stock valued at $24,188,000 after purchasing an additional 98,836 shares during the period. Dimensional Fund Advisors LP grew its stake in Precision Drilling by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 265,254 shares of the oil and gas company’s stock worth $16,198,000 after buying an additional 29,612 shares during the last quarter. Finally, Millennium Management LLC increased its position in Precision Drilling by 235.8% during the fourth quarter. Millennium Management LLC now owns 157,433 shares of the oil and gas company’s stock worth $9,621,000 after buying an additional 110,546 shares during the period. 48.86% of the stock is currently owned by institutional investors and hedge funds.

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.