Millennium Management LLC Raises Stock Holdings in Precision Drilling Co. (NYSE:PDS)

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

Several other large investors also recently added to or reduced their stakes in PDS. Blue Trust Inc. increased its holdings in Precision Drilling by 64.7% in the 4th quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company's stock worth $203,000 after acquiring an additional 1,295 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Precision Drilling by 10.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,477 shares of the oil and gas company's stock worth $518,000 after acquiring an additional 824 shares during the last quarter. Mountain Lake Investment Management LLC grew its holdings in Precision Drilling by 107.9% during the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company's stock valued at $3,174,000 after buying an additional 26,981 shares in the last quarter. Versor Investments LP purchased a new position in Precision Drilling during the 4th quarter valued at about $257,000. Finally, PCJ Investment Counsel Ltd. grew its holdings in Precision Drilling by 11.9% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 16,360 shares of the oil and gas company's stock valued at $999,000 after buying an additional 1,740 shares in the last quarter. Hedge funds and other institutional investors own 48.86% of the company's stock.

Precision Drilling Price Performance

PDS stock traded up $0.63 during mid-day trading on Tuesday, reaching $42.83. 84,646 shares of the company traded hands, compared to its average volume of 85,779. Precision Drilling Co. has a 52-week low of $36.20 and a 52-week high of $79.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. The company has a market capitalization of $579.12 million, a P/E ratio of 7.96 and a beta of 1.07. The company has a fifty day moving average price of $43.14 and a 200-day moving average price of $52.86.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last issued its quarterly earnings data on Wednesday, April 23rd. The oil and gas company reported $1.53 EPS 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 analysts' expectations of $508.06 million. As a group, analysts anticipate that Precision Drilling Co. will post 7.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Raymond James lowered Precision Drilling from a "strong-buy" rating to an "outperform" rating in a report on Wednesday, April 9th. Wall Street Zen lowered Precision Drilling from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, TD Securities lowered 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.