Precision Drilling Corporation $PDS Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its stake in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 57.0% during the second quarter, Holdings Channel.com reports. The fund owned 16,853 shares of the oil and gas company’s stock after selling 22,364 shares during the quarter. TD Asset Management Inc’s holdings in Precision Drilling were worth $797,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PDS. Sumitomo Mitsui Trust Group Inc. grew its stake in Precision Drilling by 31.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,163 shares of the oil and gas company’s stock valued at $520,000 after acquiring an additional 2,686 shares during the period. Quotient Wealth Partners LLC acquired a new stake in Precision Drilling in the 1st quarter valued at $3,192,000. Greatmark Investment Partners Inc. grew its stake in Precision Drilling by 15.9% in the 1st quarter. Greatmark Investment Partners Inc. now owns 106,189 shares of the oil and gas company’s stock valued at $4,951,000 after acquiring an additional 14,588 shares during the period. MQS Management LLC acquired a new stake in Precision Drilling in the 1st quarter valued at $420,000. Finally, Nikko Asset Management Americas Inc. grew its stake in Precision Drilling by 31.7% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,163 shares of the oil and gas company’s stock valued at $520,000 after acquiring an additional 2,686 shares during the period. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Stock Performance

Shares of Precision Drilling stock opened at $56.31 on Thursday. Precision Drilling Corporation has a one year low of $36.20 and a one year high of $67.35. The company has a market cap of $741.54 million, a PE ratio of 11.85 and a beta of 1.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.01. The business has a 50-day simple moving average of $56.51 and a 200-day simple moving average of $50.34.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Wednesday, October 22nd. The oil and gas company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.95 by ($1.32). Precision Drilling had a return on equity of 6.21% and a net margin of 5.67%. On average, equities research analysts forecast that Precision Drilling Corporation will post 7.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PDS has been the topic of a number of research reports. Royal Bank Of Canada raised their price objective on Precision Drilling from $89.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Zacks Research lowered Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Precision Drilling in a report on Wednesday, October 8th. Wall Street Zen upgraded Precision Drilling from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Piper Sandler reiterated an “overweight” rating and set a $74.00 price target (up previously from $72.00) on shares of Precision Drilling in a report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Precision Drilling presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Precision Drilling Company 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.