Ritholtz Wealth Management Sells 7,443 Shares of Precision Drilling Corporation (NYSE:PDS)

Ritholtz Wealth Management cut its position in shares of Precision Drilling Corporation (NYSE:PDS - Free Report) TSE: PD by 50.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,356 shares of the oil and gas company's stock after selling 7,443 shares during the quarter. Ritholtz Wealth Management owned 0.05% of Precision Drilling worth $343,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its position in Precision Drilling by 3,575.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company's stock valued at $9,395,000 after purchasing an additional 149,616 shares in the last quarter. Bank of Montreal Can grew its stake in Precision Drilling by 28.0% in the fourth quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company's stock valued at $36,832,000 after purchasing an additional 131,843 shares in the last quarter. Millennium Management LLC raised its stake in shares of Precision Drilling by 235.8% during the 4th quarter. Millennium Management LLC now owns 157,433 shares of the oil and gas company's stock worth $9,621,000 after purchasing an additional 110,546 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Precision Drilling by 33.3% in the fourth quarter. Bank of America Corp DE now owns 396,072 shares of the oil and gas company's stock valued at $24,188,000 after buying an additional 98,836 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Precision Drilling by 190.0% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 81,500 shares of the oil and gas company's stock worth $4,982,000 after buying an additional 53,400 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company's stock.

Wall Street Analyst Weigh In

PDS has been the subject of several research reports. Wall Street Zen downgraded Precision Drilling from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Raymond James Financial cut shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research note on Wednesday, April 9th.

Precision Drilling Trading Down 3.7%

Shares of NYSE:PDS traded down $1.78 during midday trading on Tuesday, hitting $46.25. 161,795 shares of the stock were exchanged, compared to its average volume of 91,273. The business's 50-day moving average price is $44.71 and its 200 day moving average price is $50.73. The stock has a market capitalization of $617.48 million, a price-to-earnings ratio of 9.20 and a beta of 1.07. Precision Drilling Corporation has a 12 month low of $36.20 and a 12 month high of $79.07. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 0.91.

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 EPS 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 company had revenue of $345.41 million during the quarter, compared to analyst estimates of $508.06 million. Analysts predict that Precision Drilling Corporation will post 7.1 earnings per share 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.