Precision Drilling (NYSE:PDS) Hits New 1-Year Low – Should You Sell?

Precision Drilling Co. (NYSE:PDS) (TSE:PD) reached a new 52-week low during mid-day trading 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.

Wall Street Analyst Weigh In

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

Precision Drilling Price Performance

The stock has a market cap of $602.34 million, a price-to-earnings ratio of 8.17 and a beta of 2.05. The company’s 50 day moving average is $57.79 and its 200 day moving average is $61.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35.

Precision Drilling (NYSE:PDS) (TSE:PD) last released 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 return on equity of 6.72% and a net margin of 5.87%. Research analysts forecast that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal year.

Institutional Trading of Precision Drilling

Large investors have recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of Precision Drilling by 56.6% in the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock worth $37,000 after buying an additional 218 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Precision Drilling during the fourth quarter worth about $71,000. Deutsche Bank AG purchased a new stake in shares of Precision Drilling in the fourth quarter valued at about $85,000. Signaturefd LLC grew its position in shares of Precision Drilling by 30.1% in the fourth quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock valued at $132,000 after purchasing an additional 499 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Precision Drilling by 1,741.8% during the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 2,125 shares in the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.

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.