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

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

Separately, TD Securities lowered shares of Precision Drilling from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd.

Precision Drilling Price Performance

Shares of NYSE:PDS traded down $0.81 during midday trading on Monday, reaching $45.87. 20,036 shares of the company were exchanged, compared to its average volume of 105,842. The stock has a market cap of $625.90 million, a PE ratio of 8.55 and a beta of 2.05. The business's fifty day moving average is $52.91 and its two-hundred day moving average is $58.92. Precision Drilling has a one year low of $43.00 and a one year high of $79.07. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48.

Precision Drilling (NYSE:PDS - Get Free Report) 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 the consensus estimate 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, analysts predict that Precision Drilling will post 7.1 earnings per share for the current year.

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Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Northwest & Ethical Investments L.P. raised its holdings in Precision Drilling by 22.0% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company's stock worth $207,000 after purchasing an additional 606 shares during the period. PDT Partners LLC increased its stake in shares of Precision Drilling by 182.8% during the third 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 in the last quarter. Polar Asset Management Partners Inc. increased its holdings in shares of Precision Drilling by 111.1% in the third quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company's stock valued at $4,226,000 after purchasing an additional 36,100 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new position in Precision Drilling during the third quarter worth $237,000. Finally, Jane Street Group LLC grew its holdings in Precision Drilling by 73.5% in the 3rd quarter. Jane Street Group LLC now owns 16,440 shares of the oil and gas company's stock valued at $1,014,000 after buying an additional 6,967 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.