Precision Drilling (NYSE:PDS) Stock Price Up 3.2% - Still a Buy?

Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD's stock price was up 3.2% during mid-day trading on Monday . The stock traded as high as $45.12 and last traded at $46.79. Approximately 42,630 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 74,572 shares. The stock had previously closed at $45.36.

Wall Street Analyst Weigh In

PDS has been the topic of several recent research reports. StockNews.com cut Precision Drilling from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. TD Securities cut shares of Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd.

Precision Drilling Trading Down 9.8 %

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 has a 50-day moving average of $51.03 and a two-hundred day moving average of $58.33. The company has a market cap of $536.11 million, a P/E ratio of 7.36 and a beta of 1.53.

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

Hedge Funds Weigh In On Precision Drilling

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC bought a new position in shares of Precision Drilling during the fourth quarter valued at $71,000. Deutsche Bank AG bought a new position in Precision Drilling during the 4th quarter valued at about $85,000. Signaturefd LLC boosted 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 valued at $132,000 after acquiring an additional 499 shares during the last quarter. Quantbot Technologies LP raised its holdings 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 valued at $137,000 after purchasing an additional 2,125 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in 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 valued at $203,000 after purchasing an additional 1,295 shares during the period. 48.86% of the stock is 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.