Short Interest in Precision Drilling Co. (NYSE:PDS) Rises By 18.1%

Precision Drilling Co. (NYSE:PDS) (TSE:PD) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 267,700 shares, an increase of 18.1% from the February 13th total of 226,700 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 96,200 shares, the days-to-cover ratio is currently 2.8 days.

Hedge Funds Weigh In On Precision Drilling

Several hedge funds have recently bought and sold shares of the company. US Bancorp DE boosted its holdings in Precision Drilling by 56.6% in the 3rd 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 period. Aquatic Capital Management LLC bought a new stake in Precision Drilling during the fourth quarter valued at $71,000. Deutsche Bank AG purchased a new position in Precision Drilling during the fourth quarter worth about $85,000. Signaturefd LLC increased its stake in Precision Drilling by 30.1% in the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock worth $132,000 after acquiring an additional 499 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Precision Drilling by 1,741.8% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Precision Drilling Stock Performance

Shares of NYSE:PDS traded down $0.05 during trading on Thursday, hitting $45.49. 23,424 shares of the company were exchanged, compared to its average volume of 108,179. The company has a market cap of $623.51 million, a PE ratio of 8.45 and a beta of 2.05. Precision Drilling has a 52-week low of $43.00 and a 52-week high of $79.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. The stock has a 50 day moving average of $55.16 and a 200 day moving average of $59.78.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (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%. As a group, equities research analysts predict that Precision Drilling will post 7.1 EPS for the current year.

Analyst Upgrades and Downgrades

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

About Precision Drilling

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.