Precision Drilling (NYSE:PDS) Stock Rating Lowered by StockNews.com

Precision Drilling (NYSE:PDS) (TSE:PD) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

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

Precision Drilling Stock Up 2.0 %

PDS opened at $46.90 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48. The stock has a market cap of $639.95 million, a price-to-earnings ratio of 8.72 and a beta of 2.05. Precision Drilling has a twelve month low of $43.00 and a twelve month high of $79.07. The company’s 50-day moving average price is $53.67 and its two-hundred day moving average price is $59.09.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share for the quarter, missing the consensus estimate 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, equities analysts expect that Precision Drilling will post 7.1 earnings per share for the current year.

Hedge Funds Weigh In On Precision Drilling

Several hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI lifted its holdings in Precision Drilling by 0.5% during the 4th quarter. National Bank of Canada FI now owns 729,626 shares of the oil and gas company’s stock worth $44,673,000 after purchasing an additional 3,342 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Precision Drilling by 28.0% in the fourth quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company’s stock worth $36,832,000 after buying an additional 131,843 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Precision Drilling by 33.3% in the fourth 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 acquiring an additional 98,836 shares during the period. Dimensional Fund Advisors LP grew its stake in Precision Drilling by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 265,254 shares of the oil and gas company’s stock valued at $16,198,000 after acquiring an additional 29,612 shares in the last quarter. Finally, Millennium Management LLC increased 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 worth $9,621,000 after acquiring an additional 110,546 shares during the period. 48.86% of the stock is currently 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.