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

Shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $71.90 and traded as high as $101.90. Precision Drilling shares last traded at $98.2650, with a volume of 168,852 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating on shares of Precision Drilling in a research note on Thursday, February 12th. Piper Sandler reiterated an “overweight” rating and issued a $105.00 target price (up from $81.00) on shares of Precision Drilling in a report on Tuesday, February 17th. Zacks Research upgraded shares of Precision Drilling from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Wall Street Zen downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Loop Capital set a $122.00 price objective on Precision Drilling in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.33.

Precision Drilling Price Performance

The stock’s 50-day moving average is $89.12 and its 200-day moving average is $72.05. The firm has a market cap of $1.22 billion, a P/E ratio of -241.88 and a beta of 1.01. The company has a quick ratio of 1.46, a current ratio of 1.62 and a debt-to-equity ratio of 0.43.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings results on Wednesday, February 11th. The oil and gas company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.26. The firm had revenue of $349.37 million during the quarter, compared to the consensus estimate of $489.80 million. Precision Drilling had a net margin of 0.05% and a return on equity of 4.12%. As a group, equities analysts anticipate that Precision Drilling Corporation will post 7.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Precision Drilling

A number of institutional investors have recently added to or reduced their stakes in PDS. Wolverine Asset Management LLC increased its holdings in Precision Drilling by 112.9% in the 4th quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 7,000 shares during the period. Quarry LP acquired a new stake in shares of Precision Drilling in the 3rd quarter valued at $54,000. Cubist Systematic Strategies LLC bought a new stake in shares of Precision Drilling in the 1st quarter worth about $45,000. US Bancorp DE grew its holdings in shares of Precision Drilling by 52.3% in the 3rd quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 408 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Precision Drilling during the 2nd quarter worth about $57,000. 48.86% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Company Profile

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.