Precision Drilling Downgraded to Hold by StockNews.com

Precision Drilling (NYSE:PDS) has recently faced a downgrade by investment analysts at StockNews.com. The firm has revised its previous rating from "buy" to "hold" in a research note released on Friday.

In addition to this, TD Securities also made a similar move, lowering Precision Drilling’s rating from "strong-buy" to "hold" as of February 3rd.

Stock Performance Overview

On Friday, Precision Drilling shares experienced a drop of $1.09, finishing the trading day at $54.68. The trading volume for the day was 128,135 shares, which is notably higher than the average volume of 86,024 shares. The stock has a 50-day moving average price of $60.55 and a 200-day moving average price of $63.40. Currently, the company's market capitalization stands at $753.42 million, with a P/E ratio of 4.62. Additionally, Precision Drilling has a debt-to-equity ratio of 0.47, a current ratio of 1.54, and a quick ratio of 1.41. The stock's one-year range has seen a low of $53.31 and a high of $79.07.

Precision Drilling's latest quarterly earnings report, released on February 12th, indicated an earnings per share (EPS) of $0.76, which fell short of the consensus estimate of $1.40 by $0.64. The company reported a return on equity of 10.06% and a net margin of 12.52%. Analysts are currently predicting an EPS of 6.03 for the current fiscal year.

Institutional Investors' Activity

Recent changes in institutional holdings reveal that several investors have altered their stakes in Precision Drilling. For example, US Bancorp DE increased its holdings by 56.6% during the third quarter, now owning 603 shares valued at approximately $37,000 after acquiring an additional 218 shares. Aquatic Capital Management LLC also entered a new position during the fourth quarter, valued at $71,000. Furthermore, Signaturefd LLC raised its position by 19.9% in the same quarter, now holding 1,660 shares worth about $102,000 after buying 276 shares. Blue Trust Inc. enhanced its stake by 283.7%, now owning 2,003 shares valued at $123,000 following an increase of 1,481 shares. Lastly, Quantbot Technologies LP expanded its holdings by a staggering 1,741.8%, bringing its total to 2,247 shares worth $137,000 after purchasing an additional 2,125 shares. Overall, institutional investors control about 48.86% of Precision Drilling's stock.

About Precision Drilling

Precision Drilling Corporation specializes in drilling services, providing onshore drilling, completion, and production services primarily for companies in the oil, natural gas, and geothermal industries across North America and the Middle East. The company operates through two main segments: Contract Drilling Services and Completion and Production Services.

Final Thoughts

As analysts reassess Precision Drilling's stock, investors should remain informed and consider diversifying their portfolios. Monitoring changes in ratings and institutional investments may provide insights into future performance.

Precision, Drilling, Stock