Precision Drilling (NYSE:PDS) Lowered to Hold Rating by StockNews.com

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Friday.

Separately, TD Securities downgraded Precision Drilling from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd.

Precision Drilling Stock Performance

Shares of PDS traded up $0.28 during trading hours on Friday, hitting $54.90. The company had a trading volume of 201,446 shares, compared to its average volume of 89,747. The business has a fifty day moving average of $60.32 and a 200-day moving average of $63.00. The company has a quick ratio of 1.41, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. The firm has a market cap of $756.45 million, a price-to-earnings ratio of 4.64 and a beta of 1.91. Precision Drilling has a 12 month low of $53.31 and a 12 month high of $79.07.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last released its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a net margin of 12.52% and a return on equity of 10.06%. Equities analysts anticipate that Precision Drilling will post 6.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in shares of Precision Drilling by 283.7% in the third quarter. Blue Trust Inc. now owns 2,003 shares of the oil and gas company's stock valued at $123,000 after buying an additional 1,481 shares during the period. Signaturefd LLC lifted its position in shares of Precision Drilling by 19.9% during the 3rd quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company's stock valued at $102,000 after acquiring an additional 276 shares during the period. US Bancorp DE grew its holdings in shares of Precision Drilling by 56.6% during the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company's stock worth $37,000 after purchasing an additional 218 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Precision Drilling in the third quarter worth $472,000. Finally, Northwest & Ethical Investments L.P. raised its stake in Precision Drilling by 22.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company's stock valued at $207,000 after purchasing an additional 606 shares in the last quarter. Institutional investors and hedge funds own 48.86% of the company's stock.

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.