Precision Drilling (NYSE:PDS) Trading 3.2% Higher – Still a Buy?

Shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) shot up 3.2% during trading on Monday . The company traded as high as $45.12 and last traded at $46.79. 42,630 shares changed hands during trading, a decline of 43% from the average session volume of 74,572 shares. The stock had previously closed at $45.36.

Wall Street Analyst Weigh In

PDS has been the topic of a number of analyst reports. TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. StockNews.com lowered Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th.

Precision Drilling Stock Up 2.4 %

The firm’s 50-day moving average price is $52.51 and its two-hundred day moving average price is $58.73. 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 firm has a market cap of $629.24 million, a PE ratio of 8.63 and a beta of 2.05.

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

Institutional Trading of Precision Drilling

A number of large investors have recently made changes to their positions in PDS. Aquatic Capital Management LLC acquired a new position in Precision Drilling during the fourth quarter worth approximately $71,000. Deutsche Bank AG acquired a new position in shares of Precision Drilling in the 4th quarter valued at $85,000. Signaturefd LLC increased its holdings in shares of Precision Drilling by 30.1% in the 4th 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. Quantbot Technologies LP raised its position in 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 purchasing an additional 2,125 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Precision Drilling by 64.7% during the 4th quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 1,295 shares during the period. 48.86% of the stock is owned by institutional investors and hedge funds.

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.