Precision Drilling (NYSE:PDS) Lowered to Hold Rating by Wall Street Zen

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

A number of other research analysts have also issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Precision Drilling in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Precision Drilling from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Royal Bank Of Canada upped their price target on shares of Precision Drilling from $110.00 to $117.00 and gave the stock an "outperform" rating in a report on Friday. TD Securities reaffirmed a "hold" rating on shares of Precision Drilling in a report on Thursday. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $74.00 price target (up previously from $72.00) on shares of Precision Drilling in a report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Precision Drilling presently has an average rating of "Moderate Buy" and an average price target of $95.50.

Precision Drilling Trading Up 1.3%

Shares of NYSE:PDS opened at $59.47 on Friday. The stock has a market capitalization of $783.15 million, a PE ratio of 22.11 and a beta of 1.11. The company's 50-day moving average price is $56.69 and its two-hundred day moving average price is $50.70. Precision Drilling has a one year low of $36.20 and a one year high of $67.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.01 and a quick ratio of 0.90.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last released its quarterly earnings data on Wednesday, October 22nd. The oil and gas company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.20 by ($1.57). The firm had revenue of $331.90 million for the quarter, compared to analyst estimates of $471.38 million. Precision Drilling had a return on equity of 3.44% and a net margin of 3.17%. 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 large investors have recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of Precision Drilling during the first quarter valued at about $22,637,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Precision Drilling by 275.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 387,598 shares of the oil and gas company's stock valued at $18,338,000 after purchasing an additional 284,384 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Precision Drilling during the first quarter valued at about $6,813,000. Polar Asset Management Partners Inc. lifted its position in shares of Precision Drilling by 200.0% during the first quarter. Polar Asset Management Partners Inc. now owns 108,000 shares of the oil and gas company's stock valued at $5,026,000 after purchasing an additional 72,000 shares in the last quarter. Finally, Aegis Financial Corp lifted its position in shares of Precision Drilling by 58.1% during the first quarter. Aegis Financial Corp now owns 195,505 shares of the oil and gas company's stock valued at $9,089,000 after purchasing an additional 71,867 shares in the last quarter. 48.86% of the stock is owned by 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.

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