Precision Drilling (NYSE:PDS) Reaches New 52-Week Low - What's Next?

Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD shares hit a new 52-week low during trading on Friday . The company traded as low as $42.22 and last traded at $41.18, with a volume of 552 shares traded. The stock had previously closed at $43.89.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PDS. StockNews.com lowered shares of Precision Drilling from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Raymond James lowered shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research note on Wednesday. Finally, TD Securities downgraded Precision Drilling from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd.

Precision Drilling Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48. The stock's 50-day moving average is $49.24 and its two-hundred day moving average is $57.52. The stock has a market cap of $554.60 million, a PE ratio of 7.53 and a beta of 1.53.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its quarterly earnings data 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 net margin of 5.87% and a return on equity of 6.72%. On average, equities analysts predict that Precision Drilling Co. will post 7.1 earnings per share for the current year.

Institutional Investors Weigh In On Precision Drilling

A number of hedge funds have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC acquired a new stake in shares of Precision Drilling in the fourth quarter valued at $71,000. Deutsche Bank AG purchased a new position in shares of Precision Drilling in the 4th quarter valued at about $85,000. Signaturefd LLC grew its position in shares of Precision Drilling by 30.1% during the fourth quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock worth $132,000 after buying an additional 499 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Precision Drilling by 1,741.8% during the fourth quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company's stock worth $137,000 after buying an additional 2,125 shares during the period. Finally, Blue Trust Inc. raised its holdings in Precision Drilling by 64.7% in the fourth quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company's stock valued at $203,000 after acquiring an additional 1,295 shares in the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.

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.