Precision Drilling (NYSE:PDS) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.03 and traded as high as $52.01. Precision Drilling shares last traded at $50.97, with a volume of 152,382 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Raymond James Financial downgraded Precision Drilling from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, April 9th. Wall Street Zen lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Monday, March 24th.

Precision Drilling Trading Down 1.1%

The company has a current ratio of 0.91, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock has a 50-day simple moving average of $44.42 and a two-hundred day simple moving average of $51.03. The firm has a market capitalization of $680.45 million, a P/E ratio of 10.13 and a beta of 1.07.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). Precision Drilling had a net margin of 5.84% and a return on equity of 6.51%. The firm had revenue of $345.41 million during the quarter, compared to the consensus estimate of $508.06 million. On average, equities research analysts anticipate that Precision Drilling Corporation will post 7.1 earnings per share for the current year.

Institutional Investors Weigh In On Precision Drilling

Several large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in Precision Drilling during the first quarter valued at approximately $45,000. Aquatic Capital Management LLC bought a new stake in Precision Drilling during the 4th quarter valued at $71,000. Deutsche Bank AG bought a new stake in Precision Drilling during the 4th quarter valued at $85,000. Signaturefd LLC increased its holdings in shares of Precision Drilling by 30.1% in the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 499 shares during the period. Finally, Quantbot Technologies LP raised its position in shares of Precision Drilling by 1,741.8% in the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 2,125 shares in the last quarter. 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.