Precision Drilling (NYSE:PDS) Lowered to “Hold” Rating by TD Securities

Precision Drilling (NYSE:PDS) (TSE:PD) was downgraded by equities research analysts at TD Securities from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Precision Drilling Price Performance

Shares of NYSE:PDS opened at $58.25 on Monday. The stock has a market cap of $802.74 million, a PE ratio of 4.92 and a beta of 1.91. The company’s fifty day moving average is $61.41 and its 200 day moving average is $64.16. Precision Drilling has a 52 week low of $54.49 and a 52 week high of $79.07. The company has a quick ratio of 1.41, a current ratio of 1.54 and a debt-to-equity ratio of 0.47.

Hedge Funds Weigh In On Precision Drilling

A number of hedge funds have recently modified their holdings of PDS. US Bancorp DE increased its position in shares of Precision Drilling by 56.6% in the third quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 218 shares during the period. Signaturefd LLC increased its position in shares of Precision Drilling by 19.9% in the third quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 276 shares during the period. Blue Trust Inc. increased its position in shares of Precision Drilling by 283.7% in the third quarter. Blue Trust Inc. now owns 2,003 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 1,481 shares during the period. Northwest & Ethical Investments L.P. increased its position in shares of Precision Drilling by 22.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company’s stock valued at $207,000 after acquiring an additional 606 shares during the period. Finally, Barclays PLC increased its position in shares of Precision Drilling by 1,579.0% in the third quarter. Barclays PLC now owns 3,358 shares of the oil and gas company’s stock valued at $207,000 after acquiring an additional 3,158 shares during the period. Hedge funds and other institutional investors own 48.86% of the company’s stock.

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.