Aegis Financial Corp increased its stake in Precision Drilling Corporation (NYSE:PDS - Free Report) TSE: PD by 58.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,505 shares of the oil and gas company's stock after purchasing an additional 71,867 shares during the quarter. Precision Drilling accounts for 7.8% of Aegis Financial Corp's investment portfolio, making the stock its 4th largest position. Aegis Financial Corp owned approximately 1.45% of Precision Drilling worth $9,089,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PDS. JPMorgan Chase & Co. raised its holdings in Precision Drilling by 91.7% during the fourth quarter. JPMorgan Chase & Co. now owns 28,691 shares of the oil and gas company's stock worth $1,752,000 after purchasing an additional 13,722 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of 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 buying an additional 149,616 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Precision Drilling by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 135,908 shares of the oil and gas company's stock valued at $8,308,000 after buying an additional 2,200 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Precision Drilling by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 66,857 shares of the oil and gas company's stock worth $4,083,000 after buying an additional 3,743 shares during the last quarter. Finally, Geode Capital Management LLC boosted 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 worth $450,000 after buying an additional 418 shares in the last quarter. Institutional investors and hedge funds own 48.86% of the company's stock.
Precision Drilling Trading Down 3.9%
Shares of PDS stock opened at $54.15 on Friday. The company has a market capitalization of $719.65 million, a price-to-earnings ratio of 11.40 and a beta of 1.15. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $49.39 and a 200 day moving average price of $48.86. Precision Drilling Corporation has a twelve month low of $36.20 and a twelve month high of $75.19.
Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last issued its quarterly earnings results on Tuesday, July 29th. The oil and gas company reported $0.77 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 net margin of 5.67% and a return on equity of 6.21%. Research analysts forecast that Precision Drilling Corporation will post 7.1 earnings per share for the current fiscal year.
Analysts Set New Price Targets
PDS has been the subject of several recent research reports. Piper Sandler assumed coverage on shares of Precision Drilling in a report on Tuesday, July 15th. They set an "overweight" rating and a $72.00 target price for the company. 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. 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 note on Thursday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $86.00.
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About Precision Drilling
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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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