Versor Investments LP Makes New Investment in Precision Drilling Co. (NYSE:PDS)

Versor Investments LP bought a new stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,198 shares of the oil and gas company’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mountain Lake Investment Management LLC boosted its holdings in Precision Drilling by 107.9% in the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock valued at $3,174,000 after purchasing an additional 26,981 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Precision Drilling by 10.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,477 shares of the oil and gas company’s stock valued at $518,000 after buying an additional 824 shares in the last quarter. Blue Trust Inc. grew its holdings in Precision Drilling by 64.7% during the fourth quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company’s stock worth $203,000 after acquiring an additional 1,295 shares during the period. Franklin Resources Inc. raised its position in Precision Drilling by 21.9% in the third 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. Finally, Sanctuary Advisors LLC lifted its holdings in Precision Drilling by 18.8% in the third quarter. Sanctuary Advisors LLC now owns 7,690 shares of the oil and gas company’s stock valued at $510,000 after acquiring an additional 1,215 shares during the period. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Precision Drilling Stock Performance

PDS opened at $45.98 on Tuesday. Precision Drilling Co. has a 1-year low of $45.56 and a 1-year high of $79.07. The stock has a market cap of $630.29 million, a P/E ratio of 8.55 and a beta of 1.91. The stock’s 50 day simple moving average is $59.07 and its 200 day simple moving average is $61.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. As a group, equities analysts anticipate that Precision Drilling Co. will post 7.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Precision Drilling from a “hold” rating to a “buy” rating in a report on Friday.

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.