Precision Drilling (NYSE:PDS) Sets New 12-Month Low - Should You Sell?

Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD shares hit a new 52-week low on Monday . The company traded as low as $49.07 and last traded at $49.06, with a volume of 27828 shares traded. The stock had previously closed at $49.78.

Analyst Upgrades and Downgrades

PDS has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Precision Drilling from a "hold" rating to a "buy" rating in a report on Friday, February 28th. TD Securities downgraded shares of Precision Drilling from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd.

Precision Drilling Stock Performance

The firm has a market capitalization of $634.30 million, a price-to-earnings ratio of 8.60 and a beta of 2.05. The stock's fifty day moving average is $58.56 and its two-hundred day moving average is $61.65. 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 - Get Free Report) TSE: PD last released its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. On average, analysts predict that Precision Drilling Co. will post 7.1 earnings per share for the current year.

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Hedge Funds Weigh In On Precision Drilling

Several institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Precision Drilling by 2.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,388 shares of the oil and gas company's stock valued at $695,000 after purchasing an additional 250 shares during the last quarter. SG Capital Management LLC acquired a new position in shares of Precision Drilling in the fourth quarter valued at $1,779,000. SIR Capital Management L.P. increased its holdings in shares of Precision Drilling by 10.3% in the fourth quarter. SIR Capital Management L.P. now owns 130,078 shares of the oil and gas company's stock valued at $7,955,000 after purchasing an additional 12,100 shares during the last quarter. Millennium Management LLC boosted its position 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 valued at $9,621,000 after acquiring an additional 110,546 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in shares of Precision Drilling in the fourth quarter valued at about $346,000. 48.86% of the stock is currently 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.