Canada Pension Plan Investment Board Takes Position in Precision Drilling Co. (NYSE:PDS)

Canada Pension Plan Investment Board acquired a new stake in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 40,800 shares of the oil and gas company's stock, valued at approximately $2,492,000. Canada Pension Plan Investment Board owned approximately 0.30% of Precision Drilling at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its stake in Precision Drilling by 3,575.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company's stock worth $9,395,000 after purchasing an additional 149,616 shares in the last quarter. Bank of Montreal Can lifted its position in Precision Drilling by 28.0% during the 4th quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company's stock worth $36,832,000 after buying an additional 131,843 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in Precision Drilling by 190.0% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 81,500 shares of the oil and gas company's stock worth $4,982,000 after acquiring an additional 53,400 shares during the last quarter. Mountain Lake Investment Management LLC raised its stake in shares of Precision Drilling by 107.9% in the fourth quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company's stock worth $3,174,000 after acquiring an additional 26,981 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Precision Drilling by 91.7% in the fourth quarter. JPMorgan Chase & Co. now owns 28,691 shares of the oil and gas company's stock worth $1,752,000 after acquiring an additional 13,722 shares during the last quarter. 48.86% of the stock is currently owned by institutional investors.

Precision Drilling Trading Up 1.3 %

Shares of PDS stock traded up $0.58 on Tuesday, reaching $43.77. The company had a trading volume of 16,537 shares, compared to its average volume of 83,140. The stock has a market cap of $591.75 million, a PE ratio of 8.12 and a beta of 1.53. The company has a 50-day moving average of $45.12 and a 200-day moving average of $55.37. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. Precision Drilling Co. has a 12 month low of $36.20 and a 12 month high of $79.07.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. The business had revenue of $345.41 million for the quarter, compared to the consensus estimate of $508.06 million. On average, equities analysts forecast that Precision Drilling Co. will post 7.1 earnings per share for the current year.

Analysts Set New Price Targets

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

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.