Precision Drilling (NYSE:PDS) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a hold rating to a buy rating in a report released on Sunday morning.

Separately, TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd.

Precision Drilling Stock Performance

Shares of NYSE:PDS opened at $44.64 on Friday. Precision Drilling has a 52 week low of $43.00 and a 52 week high of $79.07. The stock has a market capitalization of $611.97 million, a P/E ratio of 8.30 and a beta of 2.05. The firm has a fifty day simple moving average of $56.33 and a two-hundred day simple moving average of $60.27. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data 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 return on equity of 6.72% and a net margin of 5.87%. On average, analysts expect that Precision Drilling will post 7.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precision Drilling

A number of large investors have recently made changes to their positions in PDS. Arrowstreet Capital Limited Partnership boosted its stake in shares of Precision Drilling by 3,575.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company’s stock worth $9,395,000 after purchasing an additional 149,616 shares during the period. Bank of Montreal Can lifted its holdings in Precision Drilling by 28.0% during the 4th quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company’s stock valued at $36,832,000 after buying an additional 131,843 shares in the last quarter. Millennium Management LLC lifted its holdings in 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 valued at $9,621,000 after buying an additional 110,546 shares in the last quarter. Bank of America Corp DE lifted its holdings in Precision Drilling by 33.3% during the 4th quarter. Bank of America Corp DE now owns 396,072 shares of the oil and gas company’s stock valued at $24,188,000 after buying an additional 98,836 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Precision Drilling by 190.0% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 81,500 shares of the oil and gas company’s stock valued at $4,982,000 after buying an additional 53,400 shares in the last quarter. 48.86% of the stock is owned by hedge funds and other 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.