Precision Drilling (NYSE:PDS) Sets New 52-Week Low - Here's What Happened

Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD shares hit a new 52-week low on Monday . The stock traded as low as $43.35 and last traded at $43.94, with a volume of 127568 shares changing hands. The stock had previously closed at $46.44.

Analysts Set New Price Targets

A number of research firms have commented on PDS. StockNews.com lowered Precision Drilling from a "buy" rating to a "hold" rating in a report on Saturday. TD Securities lowered Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd.

Precision Drilling Stock Performance

The firm has a market cap of $608.10 million, a PE ratio of 8.25 and a beta of 2.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. The business has a 50-day simple moving average of $57.44 and a 200 day simple moving average of $60.89.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its quarterly 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 net margin of 5.87% and a return on equity of 6.72%. Equities research analysts forecast that Precision Drilling Co. will post 7.1 EPS for the current year.

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Institutional Investors Weigh In On Precision Drilling

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its stake in Precision Drilling by 3,575.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company's stock worth $9,395,000 after purchasing an additional 149,616 shares in the last quarter. Bank of Montreal Can grew its position in shares of Precision Drilling by 28.0% during the fourth 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 in the last quarter. Millennium Management LLC increased its holdings in shares of Precision Drilling by 235.8% in the fourth quarter. Millennium Management LLC now owns 157,433 shares of the oil and gas company's stock worth $9,621,000 after purchasing an additional 110,546 shares during the last quarter. Bank of America Corp DE boosted its stake in Precision Drilling by 33.3% during the fourth 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 buying an additional 98,836 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its holdings in Precision Drilling by 190.0% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 81,500 shares of the oil and gas company's stock valued at $4,982,000 after buying an additional 53,400 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.