Precision Drilling (NYSE:PDS) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a hold rating to a buy rating in a research report released on Friday morning.

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

Precision Drilling Trading Down 0.9 %

Shares of PDS opened at $49.67 on Friday. The company’s fifty day moving average is $59.31 and its 200 day moving average is $62.21. Precision Drilling has a fifty-two week low of $49.11 and a fifty-two week high of $79.07. The stock has a market capitalization of $680.93 million, a PE ratio of 9.23 and a beta of 1.91. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. Sell-side analysts expect that Precision Drilling will post 7.1 earnings per share for the current fiscal year.

Institutional Trading of Precision Drilling

A number of large investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Precision Drilling by 2.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,388 shares of the oil and gas company’s stock valued at $695,000 after purchasing an additional 250 shares during the period. SG Capital Management LLC purchased a new stake in shares of Precision Drilling during the fourth quarter valued at $1,779,000. SIR Capital Management L.P. boosted its stake in shares of Precision Drilling by 10.3% during the fourth quarter. SIR Capital Management L.P. now owns 130,078 shares of the oil and gas company’s stock valued at $7,955,000 after purchasing an additional 12,100 shares during the period. 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. Finally, Graham Capital Management L.P. purchased a new stake in shares of Precision Drilling during the fourth quarter valued at $346,000. 48.86% of the stock is 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.