Precision Drilling (NYSE:PDS) Upgraded at StockNews.com

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

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

Precision Drilling Stock Performance

NYSE:PDS opened at $44.49 on Friday. The firm’s fifty day simple moving average is $55.53 and its 200-day simple moving average is $59.88. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48. The stock has a market cap of $609.87 million, a PE ratio of 8.27 and a beta of 2.05. Precision Drilling has a fifty-two week low of $43.00 and a fifty-two week 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 6.72% and a net margin of 5.87%. Analysts expect that Precision Drilling will post 7.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precision Drilling

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI increased its stake 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 worth $44,673,000 after purchasing an additional 3,342 shares in the last quarter. Bank of Montreal Can increased its position 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 buying an additional 131,843 shares in the last quarter. Bank of America Corp DE increased its position in Precision Drilling by 33.3% during the fourth quarter. Bank of America Corp DE now owns 396,072 shares of the oil and gas company’s stock worth $24,188,000 after buying an additional 98,836 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Precision Drilling by 12.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 265,254 shares of the oil and gas company’s stock worth $16,198,000 after acquiring an additional 29,612 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of 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 valued at $9,621,000 after acquiring an additional 110,546 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.