Nuveen LLC acquired a new stake in Precision Drilling Corporation (NYSE:PDS - Free Report) TSE: PD during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 485,572 shares of the oil and gas company's stock, valued at approximately $22,637,000. Nuveen LLC owned 3.59% of Precision Drilling at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Precision Drilling by 31.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,163 shares of the oil and gas company's stock valued at $520,000 after buying an additional 2,686 shares during the period. Quotient Wealth Partners LLC purchased a new stake in shares of Precision Drilling in the 1st quarter valued at $3,192,000. Intact Investment Management Inc. purchased a new stake in shares of Precision Drilling in the 1st quarter valued at $2,594,000. Greatmark Investment Partners Inc. increased its holdings in Precision Drilling by 15.9% during the 1st quarter. Greatmark Investment Partners Inc. now owns 106,189 shares of the oil and gas company's stock worth $4,951,000 after purchasing an additional 14,588 shares during the period. Finally, MQS Management LLC purchased a new stake in Precision Drilling during the 1st quarter worth about $420,000. Hedge funds and other institutional investors own 48.86% of the company's stock.
Analysts Set New Price Targets
PDS has been the topic of several recent research reports. Piper Sandler restated an "overweight" rating and set a $74.00 price target (up previously from $72.00) on shares of Precision Drilling in a report on Thursday, August 14th. Zacks Research raised Precision Drilling from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, Royal Bank Of Canada upped their target price on Precision Drilling from $89.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Precision Drilling has an average rating of "Buy" and a consensus price target of $87.00.
Check Out Our Latest Analysis on PDS
Precision Drilling Stock Performance
Shares of PDS stock traded up $2.8160 during trading hours on Friday, reaching $57.2560. 53,368 shares of the company's stock were exchanged, compared to its average volume of 114,586. The company has a market cap of $756.75 million, a P/E ratio of 12.07 and a beta of 1.15. The company's 50 day moving average is $51.73 and its two-hundred day moving average is $48.07. Precision Drilling Corporation has a 1 year low of $36.20 and a 1 year high of $75.19. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.01 and a quick ratio of 0.90.
Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last issued its earnings results on Tuesday, July 29th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.79. The business had revenue of $299.14 million during the quarter, compared to the consensus estimate of $435.47 million. Precision Drilling had a return on equity of 6.21% and a net margin of 5.67%. Equities research analysts anticipate that Precision Drilling Corporation will post 7.1 EPS for the current fiscal year.
About Precision Drilling
(
Free Report)
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.
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