Precision Drilling (NYSE:PDS) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a buy rating to a hold rating in a research report released on Friday morning.

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

Precision Drilling Stock Down 1.9 %

Shares of Precision Drilling stock opened at $54.68 on Friday. The stock has a 50-day moving average price of $60.55 and a 200 day moving average price of $63.40. The company has a market cap of $753.42 million, a P/E ratio of 4.62 and a beta of 1.91. The company has a current ratio of 1.54, a quick ratio of 1.41 and a debt-to-equity ratio of 0.47. Precision Drilling has a 1 year low of $53.31 and a 1 year high of $79.07.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a return on equity of 10.06% and a net margin of 12.52%. As a group, analysts expect that Precision Drilling will post 6.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. National Bank of Canada FI increased its holdings in shares of Precision Drilling by 0.5% during the 4th quarter. National Bank of Canada FI now owns 729,626 shares of the oil and gas company’s stock valued at $44,673,000 after acquiring an additional 3,342 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Precision Drilling by 28.0% during the 4th quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company’s stock valued at $36,832,000 after acquiring an additional 131,843 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Precision Drilling by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 265,254 shares of the oil and gas company’s stock valued at $16,198,000 after acquiring an additional 29,612 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Precision Drilling by 3,575.9% during 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 acquiring an additional 149,616 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Precision Drilling by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 135,908 shares of the oil and gas company’s stock valued at $8,308,000 after acquiring an additional 2,200 shares during the last quarter. 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.