Precision Drilling Corporation (NYSE:PDS) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lowered its position in Precision Drilling Corporation (NYSE:PDS - Free Report) TSE: PD by 50.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new stake in Precision Drilling during the fourth quarter worth about $71,000. Deutsche Bank AG purchased a new stake in shares of Precision Drilling during the 4th quarter worth about $85,000. Signaturefd LLC increased its position in Precision Drilling by 30.1% during the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock worth $132,000 after purchasing an additional 499 shares in the last quarter. Quantbot Technologies LP increased its position in Precision Drilling by 1,741.8% during the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company's stock worth $137,000 after purchasing an additional 2,125 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new position in Precision Drilling in the fourth quarter valued at approximately $217,000. Institutional investors and hedge funds own 48.86% of the company's stock.

Wall Street Analysts Forecast Growth

PDS has been the subject of several research reports. Wall Street Zen downgraded shares of Precision Drilling from a "buy" rating to a "hold" rating in a research note 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 Price Performance

Shares of NYSE PDS opened at $50.48 on Friday. Precision Drilling Corporation has a 1-year low of $36.20 and a 1-year high of $79.07. The business has a 50-day moving average of $44.58 and a 200-day moving average of $50.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.91 and a quick ratio of 0.82. The company has a market capitalization of $673.93 million, a price-to-earnings ratio of 10.04 and a beta of 1.07.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last announced its 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). The company had revenue of $345.41 million for the quarter, compared to analysts' expectations of $508.06 million. Precision Drilling had a net margin of 5.84% and a return on equity of 6.51%. On average, equities analysts anticipate that Precision Drilling Corporation will post 7.1 EPS for the current fiscal 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.

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