Precision Drilling (NYSE:PDS) Reaches New 1-Year Low on Disappointing Earnings

Shares of Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD reached a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $53.31 and last traded at $55.43, with a volume of 37051 shares. The stock had previously closed at $56.23.

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 return on equity of 10.06% and a net margin of 12.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Precision Drilling from a "buy" rating to a "hold" rating in a research report on Friday. TD Securities lowered Precision Drilling from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PDS. US Bancorp DE raised its position 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 worth $37,000 after acquiring an additional 218 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Precision Drilling in the fourth quarter worth about $71,000. Deutsche Bank AG bought a new position in shares of Precision Drilling in the fourth quarter worth about $85,000. Signaturefd LLC raised its stake in shares of Precision Drilling by 19.9% in the third quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company's stock worth $102,000 after buying an additional 276 shares during the period. Finally, Blue Trust Inc. raised 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 worth $123,000 after buying an additional 1,481 shares during the period. 48.86% of the stock is currently owned by institutional investors.

Precision Drilling Price Performance

The stock has a market cap of $753.42 million, a P/E ratio of 4.62 and a beta of 1.91. The firm has a 50 day moving average price of $60.55 and a 200 day moving average price of $63.25. The company has a quick ratio of 1.41, a current ratio of 1.54 and a debt-to-equity ratio of 0.47.

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.