Precision Drilling (NYSE:PDS) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Precision Drilling Corporation (NYSE:PDS - Get Free Report) TSE: PD shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.03 and traded as high as $52.01. Precision Drilling shares last traded at $50.97, with a volume of 152,382 shares traded.

Wall Street Analysts Forecast Growth

PDS has been the topic of a number of recent research reports. Wall Street Zen cut Precision Drilling from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Raymond James Financial cut Precision Drilling from a "strong-buy" rating to an "outperform" rating in a report on Wednesday, April 9th.

Precision Drilling Price Performance

The firm has a market capitalization of $641.07 million, a PE ratio of 9.55 and a beta of 1.07. The business has a 50-day moving average of $44.71 and a 200 day moving average of $50.73. The company has a current ratio of 0.91, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last released its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.04). The company had revenue of $345.41 million during the quarter, compared to analysts' expectations of $508.06 million. Precision Drilling had a net margin of 5.84% and a return on equity of 6.51%. As a group, research analysts anticipate that Precision Drilling Corporation will post 7.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Precision Drilling

Several large investors have recently made changes to their positions in PDS. Cubist Systematic Strategies LLC purchased a new stake in shares of Precision Drilling during the 1st quarter valued at $45,000. Aquatic Capital Management LLC purchased a new stake in Precision Drilling in the 4th quarter worth about $71,000. Deutsche Bank AG purchased a new stake in Precision Drilling in the 4th quarter worth about $85,000. Signaturefd LLC increased 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 worth $132,000 after acquiring an additional 499 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in Precision Drilling by 1,741.8% in the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company's stock worth $137,000 after acquiring an additional 2,125 shares during the last quarter. 48.86% of the stock is 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.