Greatmark Investment Partners Inc. Grows Stake in Precision Drilling Corporation (NYSE:PDS)

Greatmark Investment Partners Inc. raised its position in shares of Precision Drilling Corporation (NYSE:PDS - Free Report) TSE: PD by 15.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,189 shares of the oil and gas company's stock after acquiring an additional 14,588 shares during the period. Greatmark Investment Partners Inc. owned approximately 0.79% of Precision Drilling worth $4,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Precision Drilling by 2.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,388 shares of the oil and gas company's stock worth $695,000 after purchasing an additional 250 shares during the period. Geode Capital Management LLC lifted its position in Precision Drilling by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 7,285 shares of the oil and gas company's stock worth $450,000 after buying an additional 418 shares during the last quarter. Signaturefd LLC boosted its stake in Precision Drilling by 30.1% during the fourth quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock worth $132,000 after buying an additional 499 shares during the period. Jane Street Group LLC increased its position in 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 valued at $1,049,000 after acquiring an additional 743 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. raised its stake in shares of Precision Drilling by 10.8% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 8,477 shares of the oil and gas company's stock valued at $518,000 after acquiring an additional 824 shares during the period. 48.86% of the stock is currently owned by institutional investors.

Precision Drilling Trading Down 1.0%

Precision Drilling stock traded down $0.53 during mid-day trading on Friday, hitting $50.70. The company's stock had a trading volume of 47,080 shares, compared to its average volume of 94,621. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 0.91. The company has a 50 day moving average of $46.47 and a 200-day moving average of $49.84. Precision Drilling Corporation has a one year low of $36.20 and a one year high of $79.07. The stock has a market cap of $676.73 million, a PE ratio of 10.08 and a beta of 1.06.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.04). Precision Drilling had a return on equity of 6.51% and a net margin of 5.84%. The company had revenue of $345.41 million during the quarter, compared to the consensus estimate of $508.06 million. On average, research analysts anticipate that Precision Drilling Corporation will post 7.1 EPS for the current year.

Analyst Ratings Changes

PDS has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Precision Drilling from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Raymond James Financial downgraded shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research note on Wednesday, April 9th.

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.