Precision Drilling (NYSE:PDS) Hits New 12-Month Low – Here’s What Happened

Precision Drilling Co. (NYSE:PDS) (TSE:PD) shares reached a new 52-week low on Friday . The stock traded as low as $42.22 and last traded at $41.18, with a volume of 552 shares. The stock had previously closed at $43.89.

Analysts Set New Price Targets

PDS has been the topic of a number of research analyst reports. StockNews.com cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd.

Precision Drilling Stock Down 9.1 %

The company has a market cap of $540.28 million, a P/E ratio of 7.46 and a beta of 1.53. The stock’s 50-day moving average price is $51.03 and its 200-day moving average price is $58.33. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings data 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%. As a group, research analysts forecast that Precision Drilling Co. will post 7.1 EPS for the current year.

Institutional Investors Weigh In On Precision Drilling

Large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 buying an additional 250 shares during the period. Geode Capital Management LLC grew its position in shares of Precision Drilling by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 7,285 shares of the oil and gas company’s stock valued at $450,000 after acquiring an additional 418 shares during the period. Signaturefd LLC increased its stake in shares of Precision Drilling by 30.1% during the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 499 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Precision Drilling by 4.5% in the 4th quarter. Jane Street Group LLC now owns 17,183 shares of the oil and gas company’s stock worth $1,049,000 after purchasing an additional 743 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Precision Drilling by 10.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,477 shares of the oil and gas company’s stock valued at $518,000 after purchasing an additional 824 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.