Precision Drilling (NYSE:PDS) Stock Passes Above 200-Day Moving Average – Should You Sell?

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $58.69 and traded as high as $71.90. Precision Drilling shares last traded at $71.3350, with a volume of 59,199 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PDS. Zacks Research downgraded shares of Precision Drilling from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Wall Street Zen lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Royal Bank Of Canada lifted their price target on shares of Precision Drilling from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Precision Drilling in a research note on Friday, October 31st. Finally, Atb Cap Markets upgraded Precision Drilling to a “strong-buy” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Precision Drilling Stock Up 0.1%

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.58 and a quick ratio of 1.42. The firm’s 50-day moving average price is $65.32 and its 200 day moving average price is $58.69. The firm has a market capitalization of $922.36 million, a price-to-earnings ratio of 26.52 and a beta of 1.00.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Wednesday, October 22nd. The oil and gas company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.57). The company had revenue of $331.90 million during the quarter, compared to analysts’ expectations of $471.38 million. Precision Drilling had a net margin of 3.17% and a return on equity of 3.44%. Sell-side analysts expect that Precision Drilling Corporation will post 7.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PDS. Cubist Systematic Strategies LLC purchased a new position in Precision Drilling in the 1st quarter valued at about $45,000. Goldman Sachs Group Inc. grew its holdings in shares of Precision Drilling by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 138,896 shares of the oil and gas company’s stock worth $6,475,000 after buying an additional 30,690 shares in the last quarter. Signaturefd LLC raised its position in shares of Precision Drilling by 52.4% in the second quarter. Signaturefd LLC now owns 2,230 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 767 shares during the last quarter. Quotient Wealth Partners LLC lifted its stake in shares of Precision Drilling by 41.0% during the second quarter. Quotient Wealth Partners LLC now owns 96,557 shares of the oil and gas company’s stock valued at $4,561,000 after buying an additional 28,093 shares during the period. Finally, Greatmark Investment Partners Inc. boosted its position in Precision Drilling by 12.6% during the second quarter. Greatmark Investment Partners Inc. now owns 119,604 shares of the oil and gas company’s stock worth $5,650,000 after acquiring an additional 13,415 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.

About Precision Drilling

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.