Precision Drilling (NYSE:PDS) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a buy rating to a hold rating in a research note published on Monday.

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

Precision Drilling Price Performance

Shares of PDS opened at $46.04 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48. Precision Drilling has a fifty-two week low of $43.00 and a fifty-two week high of $79.07. The firm has a 50-day simple moving average of $54.03 and a 200-day simple moving average of $59.22. The company has a market capitalization of $628.15 million, a price-to-earnings ratio of 8.56 and a beta of 2.05.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data 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 return on equity of 6.72% and a net margin of 5.87%. On average, equities research analysts anticipate that Precision Drilling will post 7.1 earnings per share for the current year.

Institutional Investors Weigh In On Precision Drilling

A number of institutional investors have recently added to or reduced their stakes in PDS. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Precision Drilling by 3,575.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company’s stock valued at $9,395,000 after buying an additional 149,616 shares during the period. Bank of Montreal Can grew its holdings in Precision Drilling by 28.0% during 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 acquiring an additional 131,843 shares during the period. Millennium Management LLC raised 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 worth $9,621,000 after acquiring an additional 110,546 shares in the last quarter. Bank of America Corp DE lifted its holdings in 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. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Precision Drilling by 190.0% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 81,500 shares of the oil and gas company’s stock worth $4,982,000 after purchasing an additional 53,400 shares during the period. Hedge funds and other institutional investors own 48.86% of the company’s stock.

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.