Precision Drilling (NYSE:PDS) Shares Gap Down - What's Next?

Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD's share price gapped down before the market opened on Wednesday . The stock had previously closed at $38.04, but opened at $36.30. Precision Drilling shares last traded at $37.78, with a volume of 56,445 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Raymond James lowered shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research note on Wednesday, April 9th. TD Securities lowered Precision Drilling from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Precision Drilling from a "buy" rating to a "hold" rating in a research note on Monday, March 24th.

Precision Drilling Stock Down 1.7 %

The firm has a market cap of $566.44 million, a price-to-earnings ratio of 7.77 and a beta of 1.53. The stock's 50 day moving average is $48.03 and its 200 day moving average is $56.94. 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 issued its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (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%. Analysts forecast that Precision Drilling Co. will post 7.1 EPS for the current year.

Institutional Trading of Precision Drilling

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aquatic Capital Management LLC acquired a new position in Precision Drilling in the fourth quarter worth approximately $71,000. Deutsche Bank AG bought a new stake in shares of Precision Drilling during the 4th quarter worth $85,000. Signaturefd LLC boosted its stake 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 in the last quarter. Quantbot Technologies LP grew its holdings in shares of Precision Drilling by 1,741.8% in the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company's stock worth $137,000 after acquiring an additional 2,125 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Precision Drilling by 64.7% during the fourth quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company's stock worth $203,000 after purchasing an additional 1,295 shares during the period. 48.86% of the stock is currently owned by institutional investors.

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.