StockNews.com Upgrades Precision Drilling (NYSE:PDS) to “Buy”

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

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

Precision Drilling Price Performance

Shares of NYSE:PDS opened at $45.12 on Friday. The company’s fifty day moving average price is $55.97 and its 200-day moving average price is $60.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. The firm has a market capitalization of $618.49 million, a price-to-earnings ratio of 8.39 and a beta of 2.05. Precision Drilling has a one year low of $43.00 and a one year high of $79.07.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates 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 research analysts anticipate that Precision Drilling will post 7.1 earnings per share for the current fiscal year.

Institutional Trading of Precision Drilling

Institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its stake in shares of Precision Drilling by 3,575.9% in 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. Bank of Montreal Can lifted its position in Precision Drilling by 28.0% in the fourth quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company’s stock valued at $36,832,000 after purchasing an additional 131,843 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Precision Drilling by 235.8% during 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 purchasing an additional 110,546 shares during the period. Bank of America Corp DE grew its holdings in shares of Precision Drilling by 33.3% in 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 purchasing an additional 98,836 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Precision Drilling by 190.0% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 81,500 shares of the oil and gas company’s stock worth $4,982,000 after buying an additional 53,400 shares during the period. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

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.