D. E. Shaw & Co. Inc. Purchases 34,000 Shares of Precision Drilling Co. (NYSE:PDS)

D. E. Shaw & Co. Inc. raised its holdings in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 618.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,500 shares of the oil and gas company's stock after buying an additional 34,000 shares during the period. D. E. Shaw & Co. Inc. owned about 0.29% of Precision Drilling worth $2,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. bought a new stake in shares of Precision Drilling in the fourth quarter worth $485,000. Bank of America Corp DE raised its holdings in shares of Precision Drilling by 33.3% during the fourth quarter. Bank of America Corp DE now owns 396,072 shares of the oil and gas company's stock worth $24,188,000 after purchasing an additional 98,836 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Precision Drilling during the fourth quarter worth $1,521,000. Orion Resource Partners LP raised its holdings in shares of Precision Drilling by 65.6% during the fourth quarter. Orion Resource Partners LP now owns 5,714 shares of the oil and gas company's stock worth $349,000 after purchasing an additional 2,263 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Precision Drilling by 4.5% during the fourth quarter. Jane Street Group LLC now owns 17,183 shares of the oil and gas company's stock worth $1,049,000 after purchasing an additional 743 shares during the period. 48.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PDS shares. Raymond James lowered shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, April 9th. Wall Street Zen lowered shares of Precision Drilling from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, TD Securities lowered shares of Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd.

Precision Drilling Price Performance

PDS traded up $1.19 on Friday, reaching $42.24. The company had a trading volume of 56,452 shares, compared to its average volume of 85,558. Precision Drilling Co. has a one year low of $36.20 and a one year high of $79.07. 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 company has a fifty day moving average of $43.21 and a 200-day moving average of $53.17. The company has a market capitalization of $571.21 million, a P/E ratio of 7.85 and a beta of 1.07.

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

About Precision Drilling

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.