Precision Drilling (NYSE:PDS) Upgraded 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 research report report published on Sunday.

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

Precision Drilling Stock Down 1.4 %

Shares of NYSE PDS opened at $44.49 on Friday. The stock has a market capitalization of $609.87 million, a PE ratio of 8.27 and a beta of 2.05. 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 firm has a fifty day moving average of $55.53 and a 200-day moving average of $59.88. Precision Drilling has a 52-week low of $43.00 and a 52-week high of $79.07.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 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, analysts anticipate that Precision Drilling will post 7.1 EPS for the current year.

Institutional Investors Weigh In On Precision Drilling

Several hedge funds have recently modified their holdings of PDS. National Bank of Canada FI boosted its holdings in Precision Drilling by 0.5% in 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 acquiring an additional 3,342 shares during the period. Bank of Montreal Can lifted its position in shares of 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 purchasing an additional 131,843 shares in the last quarter. Bank of America Corp DE boosted its stake 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 valued at $24,188,000 after purchasing an additional 98,836 shares during the period. Dimensional Fund Advisors LP grew its holdings in Precision Drilling by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 265,254 shares of the oil and gas company’s stock valued at $16,198,000 after purchasing an additional 29,612 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Precision Drilling by 235.8% during the 4th quarter. Millennium Management LLC now owns 157,433 shares of the oil and gas company’s stock worth $9,621,000 after buying an additional 110,546 shares during the period. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

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.