Precision Drilling Co. (NYSE:PDS) Shares Acquired by Mountain Lake Investment Management LLC

Mountain Lake Investment Management LLC lifted its stake in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 107.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,981 shares of the oil and gas company’s stock after buying an additional 26,981 shares during the quarter. Precision Drilling makes up approximately 3.7% of Mountain Lake Investment Management LLC’s portfolio, making the stock its 11th biggest position. Mountain Lake Investment Management LLC’s holdings in Precision Drilling were worth $3,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PDS. US Bancorp DE boosted its holdings in Precision Drilling by 56.6% in the third quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 218 shares in the last quarter. Signaturefd LLC boosted its holdings in Precision Drilling by 19.9% in the third quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 276 shares in the last quarter. Blue Trust Inc. boosted its holdings in Precision Drilling by 283.7% in the third quarter. Blue Trust Inc. now owns 2,003 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 1,481 shares in the last quarter. Barclays PLC boosted its holdings in Precision Drilling by 1,579.0% in the third quarter. Barclays PLC now owns 3,358 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 3,158 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its holdings in Precision Drilling by 22.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 606 shares in the last quarter. 48.86% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Price Performance

Shares of NYSE PDS opened at $54.68 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.41 and a debt-to-equity ratio of 0.47. Precision Drilling Co. has a twelve month low of $53.31 and a twelve month high of $79.07. The stock has a 50 day moving average of $60.55 and a two-hundred day moving average of $63.34. The stock has a market cap of $753.42 million, a P/E ratio of 4.62 and a beta of 1.91.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.64). Precision Drilling had a net margin of 12.52% and a return on equity of 10.06%. On average, research analysts forecast that Precision Drilling Co. will post 6.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PDS has been the subject of a number of research reports. TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. StockNews.com cut Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday.

Precision Drilling Profile

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.