Precision Drilling Co. (NYSE:PDS) Short Interest Update

Precision Drilling Co. (NYSE:PDS) (TSE:PD) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 267,700 shares, an increase of 18.1% from the February 13th total of 226,700 shares. Based on an average daily trading volume, of 96,200 shares, the short-interest ratio is currently 2.8 days. Approximately 2.0% of the company’s shares are sold short.

Precision Drilling Stock Down 0.1 %

NYSE PDS opened at $45.47 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. The stock has a market capitalization of $623.30 million, a PE ratio of 8.45 and a beta of 2.05. Precision Drilling has a 1 year low of $43.00 and a 1 year high of $79.07. The business’s 50-day moving average is $54.79 and its 200 day moving average is $59.68.

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

Institutional Trading of Precision Drilling

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in Precision Drilling by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock valued at $425,000 after acquiring an additional 424 shares in the last quarter. Mountain Lake Investment Management LLC boosted its position in Precision Drilling by 107.9% during the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock valued at $3,174,000 after acquiring an additional 26,981 shares in the last quarter. Franklin Resources Inc. boosted its position in Precision Drilling by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock valued at $3,961,000 after acquiring an additional 11,331 shares in the last quarter. National Bank of Canada FI boosted its position in Precision Drilling by 1.4% during the 3rd quarter. National Bank of Canada FI now owns 726,284 shares of the oil and gas company’s stock valued at $44,740,000 after acquiring an additional 10,318 shares in the last quarter. Finally, Polar Asset Management Partners Inc. boosted its position in Precision Drilling by 111.1% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company’s stock valued at $4,226,000 after acquiring an additional 36,100 shares in the last quarter. 48.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TD Securities downgraded Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. StockNews.com raised Precision Drilling from a “hold” rating to a “buy” rating in a research note on Sunday, March 16th.

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.