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

Balyasny Asset Management L.P. acquired a new position in Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 0.06% of Precision Drilling at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PDS. Aquatic Capital Management LLC purchased a new stake in shares of Precision Drilling during the fourth quarter valued at about $71,000. Signaturefd LLC increased its holdings in shares of Precision Drilling by 30.1% during the fourth quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock valued at $132,000 after acquiring an additional 499 shares in the last quarter. Quantbot Technologies LP increased its holdings in Precision Drilling by 1,741.8% in the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company's stock worth $137,000 after buying an additional 2,125 shares during the period. Blue Trust Inc. increased its holdings in Precision Drilling by 64.7% in the 4th quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company's stock worth $203,000 after buying an additional 1,295 shares during the period. Finally, Barclays PLC increased its holdings in Precision Drilling by 1,579.0% in the 3rd quarter. Barclays PLC now owns 3,358 shares of the oil and gas company's stock worth $207,000 after buying an additional 3,158 shares during the period. 48.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDS has been the topic of several recent research reports. Raymond James lowered Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, April 9th. TD Securities lowered Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Finally, StockNews.com lowered Precision Drilling from a "buy" rating to a "hold" rating in a research report on Monday, March 24th.

Precision Drilling Trading Down 0.7%

PDS traded down $0.30 on Wednesday, hitting $42.15. The company had a trading volume of 9,894 shares, compared to its average volume of 84,982. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The firm has a market cap of $570.01 million, a P/E ratio of 7.85 and a beta of 1.07. The company's fifty day moving average price is $43.40 and its 200 day moving average price is $53.53. Precision Drilling Co. has a 1 year low of $36.20 and a 1 year high of $79.07.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last issued its quarterly 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 business had revenue of $345.41 million for the quarter, compared to analysts' expectations of $508.06 million. Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. As a group, equities analysts expect that Precision Drilling Co. will post 7.1 earnings per share for the current year.

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.