Precision Drilling (NYSE:PDS) Hits New 1-Year Low – What’s Next?

Precision Drilling Co. (NYSE:PDS) (TSE:PD) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $49.07 and last traded at $49.06, with a volume of 27828 shares changing hands. The stock had previously closed at $49.78.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PDS. StockNews.com upgraded Precision Drilling from a “hold” rating to a “buy” rating in a research note on Friday. TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd.

Precision Drilling Price Performance

The stock has a market cap of $630.29 million, a P/E ratio of 8.55 and a beta of 1.91. 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 business’s 50-day simple moving average is $59.31 and its two-hundred day simple moving average is $62.10.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Wednesday, February 12th. 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 6.72% and a net margin of 5.87%. Sell-side analysts expect that Precision Drilling Co. will post 7.1 EPS for the current year.

Institutional Investors Weigh In On Precision Drilling

A number of hedge funds and other institutional investors have recently modified their holdings of PDS. US Bancorp DE lifted its position in Precision Drilling by 56.6% in the third quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 218 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Precision Drilling during the 4th quarter valued at $71,000. Deutsche Bank AG purchased a new stake in Precision Drilling during the 4th quarter valued at $85,000. Signaturefd LLC increased its position in shares of Precision Drilling by 30.1% in the fourth quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 499 shares during the period. Finally, Quantbot Technologies LP raised its stake 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 acquiring an additional 2,125 shares during the last quarter. Institutional investors 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.