Precision Drilling (NYSE:PDS) Trading Down 2.6% - Time to Sell?

Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD shares were down 2.6% during trading on Monday . The company traded as low as $56.69 and last traded at $57.30. Approximately 7,558 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 66,000 shares. The stock had previously closed at $58.85.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com upgraded Precision Drilling from a "hold" rating to a "buy" rating in a report on Thursday, August 1st. Piper Sandler upped their price target on shares of Precision Drilling from $95.00 to $112.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd.

Precision Drilling Stock Performance

The company has a fifty day moving average of $64.75 and a two-hundred day moving average of $68.28. The stock has a market capitalization of $828.37 million, a P/E ratio of 5.09 and a beta of 1.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.51 and a quick ratio of 1.39.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $1.44 EPS for the quarter, topping the consensus estimate of ($0.62) by $2.06. Precision Drilling had a return on equity of 9.26% and a net margin of 11.68%. The company had revenue of $429.20 million during the quarter, compared to analyst estimates of $310.13 million. During the same quarter last year, the firm earned $1.21 EPS. The business's revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate that Precision Drilling Co. will post 6.57 EPS for the current year.

Institutional Trading of Precision Drilling

A number of institutional investors and hedge funds have recently modified their holdings of the business. National Bank of Canada FI grew its position in shares of Precision Drilling by 0.7% during the 2nd quarter. National Bank of Canada FI now owns 715,966 shares of the oil and gas company's stock valued at $49,928,000 after buying an additional 4,919 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Precision Drilling by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 201,625 shares of the oil and gas company's stock valued at $14,182,000 after purchasing an additional 28,947 shares during the last quarter. American Century Companies Inc. raised its position in shares of Precision Drilling by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 99,979 shares of the oil and gas company's stock worth $7,030,000 after purchasing an additional 7,436 shares during the period. Aegis Financial Corp acquired a new stake in shares of Precision Drilling during the 1st quarter worth approximately $6,124,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Precision Drilling by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 86,114 shares of the oil and gas company's stock worth $4,700,000 after purchasing an additional 17,214 shares during the last quarter. 48.86% of the stock is owned by institutional investors and hedge funds.

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.