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

TD Securities lowered shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Precision Drilling Stock Performance

NYSE:PDS opened at $58.25 on Monday. Precision Drilling has a 1 year low of $54.49 and a 1 year high of $79.07. The firm has a 50 day moving average of $61.41 and a 200-day moving average of $64.16. The company has a current ratio of 1.54, a quick ratio of 1.41 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $802.74 million, a P/E ratio of 4.92 and a beta of 1.91.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in Precision Drilling during the 2nd quarter worth $210,000. The Manufacturers Life Insurance Company grew its holdings in Precision Drilling by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,020 shares of the oil and gas company’s stock worth $844,000 after acquiring an additional 150 shares during the period. Sanctuary Advisors LLC acquired a new stake in Precision Drilling during the 2nd quarter worth $468,000. Ritholtz Wealth Management grew its holdings in Precision Drilling by 51.9% during the 3rd quarter. Ritholtz Wealth Management now owns 16,193 shares of the oil and gas company’s stock worth $998,000 after acquiring an additional 5,532 shares during the period. Finally, Blue Trust Inc. grew its holdings in Precision Drilling by 283.7% during the 3rd quarter. Blue Trust Inc. now owns 2,003 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 1,481 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.