Precision Drilling (NYSE:PDS) Sets New 12-Month Low – Should You Sell?

Precision Drilling Co. (NYSE:PDS) (TSE:PD)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $54.90 and last traded at $55.01, with a volume of 31701 shares changing hands. The stock had previously closed at $58.29.

Precision Drilling Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. The company has a market cap of $763.55 million, a price-to-earnings ratio of 4.69 and a beta of 1.91. The stock has a 50 day simple moving average of $61.66 and a 200 day simple moving average of $64.39.

Hedge Funds Weigh In On Precision Drilling

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Precision Drilling by 1.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,020 shares of the oil and gas company’s stock worth $844,000 after acquiring an additional 150 shares during the last quarter. US Bancorp DE increased its holdings in Precision Drilling by 56.6% during the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 218 shares during the last quarter. Signaturefd LLC raised its position in shares of Precision Drilling by 19.9% in the 3rd quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 276 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Precision Drilling by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock valued at $425,000 after buying an additional 424 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew 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 in the last quarter. 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.