Precision Drilling (NYSE:PDS) Downgraded by StockNews.com to Hold

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

Separately, TD Securities cut shares of Precision Drilling from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd.

Precision Drilling Stock Down 0.4 %

PDS stock traded down $0.17 during trading on Friday, reaching $43.86. The stock had a trading volume of 134,797 shares, compared to its average volume of 69,302. Precision Drilling has a 1-year low of $43.02 and a 1-year high of $79.07. The company has a market capitalization of $601.16 million, a P/E ratio of 8.15 and a beta of 2.05. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $57.79 and a 200 day moving average price of $61.09.

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

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Hedge Funds Weigh In On Precision Drilling

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE lifted its position in Precision Drilling by 56.6% in the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company's stock valued at $37,000 after purchasing an additional 218 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Precision Drilling during the third quarter valued at approximately $472,000. Northwest & Ethical Investments L.P. boosted its position in shares of Precision Drilling by 22.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company's stock worth $207,000 after buying an additional 606 shares during the period. PDT Partners LLC grew its holdings in Precision Drilling by 182.8% in the 3rd quarter. PDT Partners LLC now owns 8,264 shares of the oil and gas company's stock worth $509,000 after buying an additional 5,342 shares in the last quarter. Finally, Polar Asset Management Partners Inc. increased its position in Precision Drilling by 111.1% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company's stock valued at $4,226,000 after acquiring an additional 36,100 shares during the period. Institutional investors and hedge funds own 48.86% of the company's stock.

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.