Precision Drilling (NYSE:PDS) Reaches New 1-Year Low - Here's Why

Shares of Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD reached a new 52-week low during trading on Thursday . The stock traded as low as $36.20 and last traded at $44.15, with a volume of 339818 shares changing hands. The stock had previously closed at $38.04.

Analyst Upgrades and Downgrades

PDS has been the subject of several research reports. StockNews.com downgraded Precision Drilling from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. TD Securities downgraded Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Finally, Raymond James cut Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, April 9th.

Precision Drilling Trading Up 1.5 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48. The company has a market capitalization of $575.79 million, a PE ratio of 7.90 and a beta of 1.53. The business has a fifty day moving average price of $47.70 and a 200 day moving average price of $56.80.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted 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 return on equity of 6.72% and a net margin of 5.87%. Analysts expect that Precision Drilling Co. will post 7.1 EPS for the current fiscal year.

Institutional Trading of Precision Drilling

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI boosted its position in shares of Precision Drilling by 0.5% during the fourth quarter. National Bank of Canada FI now owns 729,626 shares of the oil and gas company's stock worth $44,673,000 after buying an additional 3,342 shares during the period. Bank of Montreal Can raised its stake in Precision Drilling by 28.0% during the 4th quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company's stock valued at $36,832,000 after acquiring an additional 131,843 shares in the last quarter. Bank of America Corp DE boosted its position in Precision Drilling by 33.3% during the 4th quarter. Bank of America Corp DE now owns 396,072 shares of the oil and gas company's stock worth $24,188,000 after acquiring an additional 98,836 shares during the period. Dimensional Fund Advisors LP lifted its holdings in 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 purchasing an additional 29,612 shares during the period. Finally, Millennium Management LLC grew its position in Precision Drilling by 235.8% in the 4th quarter. Millennium Management LLC now owns 157,433 shares of the oil and gas company's stock valued at $9,621,000 after buying an additional 110,546 shares in the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.

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.