Balyasny Asset Management L.P. Buys New Holdings in Precision Drilling Co. (NYSE:PDS)

Balyasny Asset Management L.P. acquired a new stake in Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,946 shares of the oil and gas company's stock, valued at approximately $485,000. Balyasny Asset Management L.P. owned approximately 0.06% of Precision Drilling as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aquatic Capital Management LLC bought a new position in shares of Precision Drilling during the fourth quarter valued at $71,000. Signaturefd LLC raised its position in Precision Drilling by 30.1% in the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock valued at $132,000 after purchasing an additional 499 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of Precision Drilling by 1,741.8% in the fourth quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company's stock valued at $137,000 after buying an additional 2,125 shares during the last quarter. Blue Trust Inc. lifted its position in shares of 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 purchasing an additional 1,295 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Precision Drilling by 1,579.0% during the third quarter. Barclays PLC now owns 3,358 shares of the oil and gas company's stock worth $207,000 after acquiring an additional 3,158 shares during the last quarter. 48.86% of the stock is owned by institutional investors.

Precision Drilling Stock Down 2.1%

PDS traded down $0.91 during trading hours on Monday, hitting $42.42. 54,611 shares of the company's stock were exchanged, compared to its average volume of 85,149. The stock has a market cap of $573.65 million, a price-to-earnings ratio of 7.88 and a beta of 1.07. Precision Drilling Co. has a 1-year low of $36.20 and a 1-year high of $79.07. The stock's 50-day moving average is $43.46 and its two-hundred day moving average is $53.72. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last released its earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.04). The company had revenue of $345.41 million during the quarter, compared to analyst estimates of $508.06 million. Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. Sell-side analysts predict that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PDS shares. Raymond James lowered shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research note on Wednesday, April 9th. StockNews.com cut shares of Precision Drilling from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, TD Securities downgraded Precision Drilling from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd.

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.