Precision Drilling Co. (NYSE:PDS) Sees Large Increase in Short Interest

Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 337,300 shares, a growth of 26.0% from the February 28th total of 267,700 shares. Based on an average daily volume of 101,200 shares, the days-to-cover ratio is presently 3.3 days. Currently, 2.6% of the shares of the company are short sold.

Institutional Trading of Precision Drilling

Institutional investors have recently bought and sold shares of the company. Aquatic Capital Management LLC acquired a new position in shares of Precision Drilling during the 4th quarter worth $71,000. Deutsche Bank AG purchased a new position in Precision Drilling during the 4th quarter valued at about $85,000. Signaturefd LLC raised its position in 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 acquiring an additional 499 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Precision Drilling by 1,741.8% in 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 in the last quarter. Finally, Blue Trust Inc. grew its position in shares of 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 purchasing an additional 1,295 shares during the last quarter. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Precision Drilling Price Performance

Shares of PDS traded down $4.32 during mid-day trading on Friday, hitting $39.57. The company's stock had a trading volume of 404,521 shares, compared to its average volume of 78,629. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. Precision Drilling has a 1-year low of $38.38 and a 1-year high of $79.07. The firm has a market capitalization of $536.11 million, a P/E ratio of 7.36 and a beta of 1.53. The firm has a 50-day simple moving average of $50.56 and a 200 day simple moving average of $58.10.

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 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 predict that Precision Drilling will post 7.1 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.