Precision Drilling (NYSE:PDS) Hits New 52-Week Low on Disappointing Earnings

Shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) hit a new 52-week low on Thursday following a dissappointing earnings announcement. The stock traded as low as $53.31 and last traded at $55.43, with a volume of 37051 shares trading hands. The stock had previously closed at $56.23.

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 10.06% and a net margin of 12.52%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PDS shares. StockNews.com downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday. TD Securities downgraded Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. US Bancorp DE raised its holdings in shares of Precision Drilling by 56.6% in the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 218 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Precision Drilling during the 4th quarter worth approximately $71,000. Signaturefd LLC raised its stake in shares of Precision Drilling by 19.9% in the third quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 276 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Precision Drilling by 283.7% in the third quarter. Blue Trust Inc. now owns 2,003 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 1,481 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position 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 buying an additional 2,125 shares during the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Precision Drilling Price Performance

The firm has a market cap of $753.42 million, a P/E ratio of 4.62 and a beta of 1.91. The company has a fifty day moving average of $60.55 and a 200-day moving average of $63.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 1.41.

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.