Millennium Management LLC Acquires 110,546 Shares of Precision Drilling Co. (NYSE:PDS)

Millennium Management LLC lifted its stake in Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 235.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,433 shares of the oil and gas company's stock after buying an additional 110,546 shares during the period. Millennium Management LLC owned approximately 1.14% of Precision Drilling worth $9,621,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Aquatic Capital Management LLC purchased a new position in shares of Precision Drilling in the fourth quarter worth about $71,000. Deutsche Bank AG purchased a new position in shares of Precision Drilling in the fourth quarter worth about $85,000. Signaturefd LLC increased its holdings in shares of Precision Drilling by 30.1% in 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. Quantbot Technologies LP increased its holdings in shares of Precision Drilling by 1,741.8% in the fourth 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. Finally, Blue Trust Inc. increased its holdings in shares of Precision Drilling by 64.7% in the fourth 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. Hedge funds and other institutional investors own 48.86% of the company's stock.

Precision Drilling Stock Up 0.3%

Precision Drilling stock traded up $0.13 during trading hours on Thursday, hitting $42.85. 14,270 shares of the stock traded hands, compared to its average volume of 122,949. The firm's 50-day moving average price is $43.05 and its two-hundred day moving average price is $52.72. 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 market cap of $579.46 million, a PE ratio of 7.96 and a beta of 1.07. Precision Drilling Co. has a one year low of $36.20 and a one year high of $79.07.

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). The firm had revenue of $345.41 million for the quarter, compared to the consensus estimate of $508.06 million. Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. On average, research analysts forecast that Precision Drilling Co. will post 7.1 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen downgraded 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 report on Wednesday, April 9th. Finally, TD Securities downgraded Precision Drilling from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd.

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.