Precision Drilling (NYSE:PDS) Rating Increased to Buy at StockNews.com

Precision Drilling (NYSE:PDS) (TSE:PD) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

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

Precision Drilling Trading Up 1.0 %

NYSE PDS opened at $45.12 on Friday. 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 stock has a market cap of $618.49 million, a P/E ratio of 8.39 and a beta of 2.05. The stock has a 50 day simple moving average of $55.97 and a two-hundred day simple moving average of $60.08.

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 the consensus estimate of $1.40 by ($0.64). Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. On average, analysts forecast that Precision Drilling will post 7.1 earnings per share for the current year.

Hedge Funds Weigh In On Precision Drilling

A number of institutional investors have recently added to or reduced their stakes in PDS. US Bancorp DE boosted its holdings in shares of Precision Drilling by 56.6% during the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 218 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Precision Drilling during the fourth quarter worth about $71,000. Deutsche Bank AG purchased a new stake in Precision Drilling in the fourth quarter worth about $85,000. Signaturefd LLC grew its holdings in Precision Drilling by 30.1% in the fourth quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 499 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of Precision Drilling by 1,741.8% during the fourth 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 in the last quarter. 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.