Precision Drilling Corporation $PDS Shares Sold by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC decreased its holdings in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 15.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,254 shares of the oil and gas company’s stock after selling 11,907 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Precision Drilling were worth $6,618,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FIL Ltd increased its holdings in shares of Precision Drilling by 27,294.7% in the fourth quarter. FIL Ltd now owns 850,331 shares of the oil and gas company’s stock valued at $61,017,000 after purchasing an additional 847,227 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Precision Drilling during the fourth quarter worth approximately $20,979,000. Aegis Financial Corp boosted its stake in Precision Drilling by 110.0% during the third quarter. Aegis Financial Corp now owns 452,359 shares of the oil and gas company’s stock worth $25,486,000 after buying an additional 236,963 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in Precision Drilling by 100.0% during the third quarter. Picton Mahoney Asset Management now owns 245,981 shares of the oil and gas company’s stock worth $13,851,000 after buying an additional 122,974 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Precision Drilling by 11,668,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 116,690 shares of the oil and gas company’s stock valued at $8,388,000 after buying an additional 116,689 shares in the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PDS has been the subject of a number of recent research reports. TD Securities reaffirmed a “hold” rating on shares of Precision Drilling in a research note on Friday, May 1st. Weiss Ratings raised shares of Precision Drilling from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 5th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Precision Drilling in a report on Friday, May 1st. Wall Street Zen cut shares of 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 target price on shares of Precision Drilling in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.33.

Precision Drilling Trading Down 0.3%

Shares of Precision Drilling stock opened at $83.49 on Friday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -88.81 and a beta of 0.76. Precision Drilling Corporation has a fifty-two week low of $45.97 and a fifty-two week high of $103.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.52 and a current ratio of 1.70. The stock has a 50 day moving average of $92.52 and a 200 day moving average of $85.52.

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.