Precision Drilling (NYSE:PDS) Raised to "Buy" at StockNews.com

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

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

Precision Drilling Stock Down 7.6 %

PDS traded down $3.80 during trading on Friday, hitting $45.98. The company had a trading volume of 231,090 shares, compared to its average volume of 100,070. Precision Drilling has a 1-year low of $45.56 and a 1-year high of $79.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. The company has a market cap of $630.29 million, a PE ratio of 8.55 and a beta of 1.91. The business has a 50-day moving average of $59.07 and a 200-day moving average of $61.93.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last issued its 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%. As a group, analysts forecast that Precision Drilling will post 7.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Precision Drilling by 2.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,388 shares of the oil and gas company's stock valued at $695,000 after buying an additional 250 shares during the last quarter. SG Capital Management LLC acquired a new position in Precision Drilling in the fourth quarter valued at approximately $1,779,000. SIR Capital Management L.P. grew its holdings in shares of Precision Drilling by 10.3% during the fourth quarter. SIR Capital Management L.P. now owns 130,078 shares of the oil and gas company's stock valued at $7,955,000 after purchasing an additional 12,100 shares during the last quarter. Millennium Management LLC raised its position in shares of Precision Drilling by 235.8% during the 4th quarter. Millennium Management LLC now owns 157,433 shares of the oil and gas company's stock worth $9,621,000 after purchasing an additional 110,546 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in shares of Precision Drilling in the 4th quarter worth approximately $346,000. 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.