PCJ Investment Counsel Ltd. Boosts Position in Precision Drilling Co. (NYSE:PDS)

PCJ Investment Counsel Ltd. increased its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 11.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,360 shares of the oil and gas company’s stock after buying an additional 1,740 shares during the period. PCJ Investment Counsel Ltd. owned 0.12% of Precision Drilling worth $999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings 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 worth $425,000 after acquiring an additional 424 shares in the last quarter. Mountain Lake Investment Management LLC grew its holdings 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 worth $3,174,000 after acquiring an additional 26,981 shares in the last quarter. Franklin Resources Inc. grew its holdings 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 worth $3,961,000 after acquiring an additional 11,331 shares in the last quarter. National Bank of Canada FI grew its holdings 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 worth $44,740,000 after acquiring an additional 10,318 shares in the last quarter. Finally, Polar Asset Management Partners Inc. grew its holdings 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 worth $4,226,000 after acquiring an additional 36,100 shares in the last quarter. 48.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PDS. StockNews.com cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Saturday. TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd.

Precision Drilling Stock Down 0.0 %

NYSE:PDS opened at $46.43 on Friday. Precision Drilling Co. has a fifty-two week low of $43.63 and a fifty-two week high of $79.07. The stock has a market capitalization of $636.46 million, a P/E ratio of 8.63 and a beta of 2.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48. The company’s 50-day simple moving average is $58.32 and its 200-day simple moving average is $61.54.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings results 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 5.87% and a return on equity of 6.72%. On average, equities analysts anticipate that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal year.

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.