Precision Drilling (NYSE:PDS) Downgraded by Raymond James to “Outperform”

Raymond James cut shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a strong-buy rating to an outperform rating in a research note released on Wednesday, Marketbeat reports.

A number of other equities research analysts have also recently commented on the stock. TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. StockNews.com downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th.

Precision Drilling Stock Up 3.9 %

Shares of NYSE:PDS opened at $42.48 on Wednesday. Precision Drilling has a 1 year low of $36.20 and a 1 year high of $79.07. The company has a market capitalization of $575.52 million, a PE ratio of 7.90 and a beta of 1.53. The business has a fifty day moving average price of $48.03 and a two-hundred day moving average price of $56.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.64). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. Analysts forecast that Precision Drilling will post 7.1 earnings per share for the current year.

Institutional Trading of Precision Drilling

Hedge funds and other institutional investors have recently modified their holdings of the business. Aquatic Capital Management LLC purchased a new position in Precision Drilling in the 4th quarter valued at approximately $71,000. Deutsche Bank AG purchased a new position in shares of Precision Drilling in the fourth quarter valued at $85,000. Signaturefd LLC raised 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 valued at $132,000 after purchasing an additional 499 shares during the period. Quantbot Technologies LP lifted its holdings in Precision Drilling by 1,741.8% during the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 2,125 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Precision Drilling by 64.7% in the 4th quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 1,295 shares during the period. Institutional investors own 48.86% of the company’s stock.

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.