Precision Drilling (NYSE:PDS) Stock Rating Upgraded by StockNews.com

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

Separately, TD Securities lowered 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 stock traded up $1.24 during trading on Friday, reaching $45.74. 60,654 shares of the company's stock traded hands, compared to its average volume of 109,468. The firm's 50-day moving average is $55.53 and its 200 day moving average is $59.88. The company has a market capitalization of $626.94 million, a P/E ratio of 8.50 and a beta of 2.05. Precision Drilling has a 1 year low of $43.00 and a 1 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 announced 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 5.87% and a return on equity of 6.72%. Equities research analysts expect that Precision Drilling will post 7.1 EPS for the current year.

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Hedge Funds Weigh In On Precision Drilling

Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in Precision Drilling by 56.6% in the third quarter. US Bancorp DE now owns 603 shares of the oil and gas company's stock valued at $37,000 after acquiring an additional 218 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Precision Drilling by 2.2% in the 4th 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 worth $695,000 after purchasing an additional 250 shares during the period. Geode Capital Management LLC boosted its stake in shares of Precision Drilling by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 7,285 shares of the oil and gas company's stock valued at $450,000 after purchasing an additional 418 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Precision Drilling by 30.1% during the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock worth $132,000 after acquiring an additional 499 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its stake in shares of 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 valued at $207,000 after purchasing an additional 606 shares during the period. Hedge funds and other 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.