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

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

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

Precision Drilling Stock Performance

PDS stock opened at $49.67 on Friday. The firm has a market cap of $680.93 million, a price-to-earnings ratio of 9.23 and a beta of 1.91. The firm has a 50-day simple moving average of $59.31 and a two-hundred day simple moving average of $62.21. Precision Drilling has a one year low of $49.11 and a one year high of $79.07. 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 (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 (EPS) 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, equities analysts forecast that Precision Drilling will post 7.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its position 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Precision Drilling by 2.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,388 shares of the oil and gas company’s stock valued at $695,000 after purchasing an additional 250 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Precision Drilling by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 7,285 shares of the oil and gas company’s stock valued at $450,000 after purchasing an additional 418 shares in the last quarter. Signaturefd LLC lifted its holdings in Precision Drilling by 30.1% in the 4th 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 in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its holdings in Precision Drilling by 22.0% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 606 shares in the last quarter. 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.