Precision Drilling (NYSE:PDS) Reaches New 52-Week Low – What’s Next?

Shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) hit a new 52-week low on Monday . The stock traded as low as $43.35 and last traded at $43.94, with a volume of 127568 shares. The stock had previously closed at $46.44.

Analysts Set New Price Targets

PDS has been the topic of several research analyst reports. TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. StockNews.com cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Saturday.

Precision Drilling Trading Up 1.3 %

The company has a market capitalization of $609.59 million, a PE ratio of 8.27 and a beta of 2.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48. The business has a fifty day moving average price of $57.11 and a 200 day moving average price of $60.78.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 EPS 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%. Analysts expect that Precision Drilling Co. will post 7.1 EPS for the current fiscal year.

Institutional Trading of Precision Drilling

A number of institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Precision Drilling by 2.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,388 shares of the oil and gas company’s stock worth $695,000 after purchasing an additional 250 shares in the last quarter. SG Capital Management LLC acquired a new position in Precision Drilling during the 4th quarter worth approximately $1,779,000. SIR Capital Management L.P. boosted its holdings in Precision Drilling by 10.3% in the 4th quarter. SIR Capital Management L.P. now owns 130,078 shares of the oil and gas company’s stock worth $7,955,000 after acquiring an additional 12,100 shares during the period. Millennium Management LLC grew its position in Precision Drilling by 235.8% in the fourth quarter. Millennium Management LLC now owns 157,433 shares of the oil and gas company’s stock valued at $9,621,000 after acquiring an additional 110,546 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in shares of Precision Drilling during the fourth quarter valued at approximately $346,000. 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.