Bank of America Corp DE grew its stake in Precision Drilling Corporation (NYSE:PDS - Free Report) TSE: PD by 129.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,706 shares of the oil and gas company's stock after purchasing an additional 64,735 shares during the period. Bank of America Corp DE owned approximately 0.89% of Precision Drilling worth $11,287,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in PDS. Cubist Systematic Strategies LLC purchased a new position in Precision Drilling during the 1st quarter valued at about $45,000. Quarry LP acquired a new stake in shares of Precision Drilling during the third quarter worth about $54,000. Raymond James Financial Inc. acquired a new position in Precision Drilling in the 2nd quarter worth approximately $57,000. Wolverine Asset Management LLC raised its position in Precision Drilling by 112.9% during the 4th quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company's stock worth $58,000 after buying an additional 7,000 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Precision Drilling by 52.3% during the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company's stock worth $67,000 after acquiring an additional 408 shares during the period. 48.86% of the stock is currently owned by institutional investors.
Precision Drilling Price Performance
Shares of NYSE PDS opened at $91.79 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.29. The business has a 50-day moving average of $81.45 and a 200-day moving average of $88.45. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -43.92 and a beta of 0.78. Precision Drilling Corporation has a 1-year low of $53.42 and a 1-year high of $103.80.
Analyst Ratings Changes
PDS has been the subject of several recent analyst reports. Zacks Research lowered shares of Precision Drilling from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Wall Street Zen lowered Precision Drilling from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. BMO Capital Markets restated an "outperform" rating on shares of Precision Drilling in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Precision Drilling in a research note on Friday, May 1st. Finally, TD Securities reaffirmed a "hold" rating on shares of Precision Drilling in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $122.33.
View Our Latest Report on PDS
Precision Drilling Company Profile
(
Free Report)
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.
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