MQS Management LLC Takes $420,000 Position in Precision Drilling Corporation (NYSE:PDS)

MQS Management LLC bought a new stake in Precision Drilling Corporation (NYSE:PDS - Free Report) TSE: PD in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,007 shares of the oil and gas company's stock, valued at approximately $420,000. MQS Management LLC owned approximately 0.07% of Precision Drilling as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of PDS. Greatmark Investment Partners Inc. increased its position in shares of Precision Drilling by 15.9% in the 1st quarter. Greatmark Investment Partners Inc. now owns 106,189 shares of the oil and gas company's stock valued at $4,951,000 after buying an additional 14,588 shares in the last quarter. Quotient Wealth Partners LLC bought a new stake in shares of Precision Drilling in the first quarter worth about $3,192,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Precision Drilling by 31.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,163 shares of the oil and gas company's stock worth $520,000 after acquiring an additional 2,686 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Precision Drilling during the first quarter worth about $2,594,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Precision Drilling by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 135,908 shares of the oil and gas company's stock valued at $8,308,000 after purchasing an additional 2,200 shares in the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on PDS shares. Wall Street Zen downgraded shares of Precision Drilling from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Raymond James Financial lowered shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a report on Wednesday, April 9th.

Precision Drilling Stock Down 1.8%

Shares of NYSE:PDS traded down $0.92 during mid-day trading on Monday, reaching $49.73. 68,636 shares of the stock were exchanged, compared to its average volume of 120,629. The stock's 50 day simple moving average is $46.47 and its 200-day simple moving average is $49.78. Precision Drilling Corporation has a one year low of $36.20 and a one year high of $79.07. The company has a market cap of $663.90 million, a P/E ratio of 9.89 and a beta of 1.06. The company has a quick ratio of 0.82, a current ratio of 0.91 and a debt-to-equity ratio of 0.33.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last released its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share 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 firm had revenue of $345.41 million for the quarter, compared to analyst estimates of $508.06 million. As a group, equities research analysts predict that Precision Drilling Corporation will post 7.1 EPS for the current year.

Precision Drilling 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.