Polar Asset Management Partners Inc. Lowers Stake in Precision Drilling Co. (NYSE:PDS)

Polar Asset Management Partners Inc. cut its holdings in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 47.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,000 shares of the oil and gas company's stock after selling 32,600 shares during the period. Polar Asset Management Partners Inc. owned 0.26% of Precision Drilling worth $2,201,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Precision Drilling by 2.2% during the fourth 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Precision Drilling by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 7,285 shares of the oil and gas company's stock valued at $450,000 after acquiring an additional 418 shares during the period. Signaturefd LLC increased its position in shares of Precision Drilling by 30.1% in the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock valued at $132,000 after acquiring an additional 499 shares during the period. Jane Street Group LLC increased its position in shares of Precision Drilling by 4.5% in the 4th 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 period. Finally, Nikko Asset Management Americas Inc. increased its position in shares of Precision Drilling by 10.8% in the 4th 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 owned by institutional investors and hedge funds.

Precision Drilling Stock Performance

NYSE:PDS traded up $0.23 during mid-day trading on Friday, hitting $43.22. The company's stock had a trading volume of 102,979 shares, compared to its average volume of 86,392. Precision Drilling Co. has a 1 year low of $36.20 and a 1 year 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 stock has a market cap of $584.46 million, a price-to-earnings ratio of 8.03 and a beta of 1.07. The business's fifty day moving average is $42.91 and its two-hundred day moving average is $52.36.

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 the consensus estimate of $1.57 by ($0.04). Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. The business had revenue of $345.41 million during the quarter, compared to analysts' expectations of $508.06 million. Analysts anticipate that Precision Drilling Co. will post 7.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PDS. TD Securities downgraded Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Wall Street Zen downgraded Precision Drilling from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Raymond James downgraded Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, April 9th.

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.