Quotient Wealth Partners LLC Acquires 28,093 Shares of Precision Drilling Corporation $PDS

Key Points

• Quotient Wealth Partners LLC increased its holdings in Precision Drilling Corporation by 41% in Q2, acquiring an additional 28,093 shares, bringing its total to 96,557 shares valued at approximately $4.56 million.
• Institutional ownership of Precision Drilling stands at 48.86%, with several other investors, like Signaturefd LLC and Aristides Capital LLC, also increasing their stakes during the same period.
• Brokerage firms have issued mixed ratings for Precision Drilling, with Zacks downgrading it to "hold" while Wall Street Zen upgraded it to "buy," reflecting varying analyst opinions on the stock's potential.

Quotient Wealth Partners LLC raised its position in shares of Precision Drilling Corporation (NYSE:PDS - Free Report) TSE: PD by 41.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,557 shares of the oil and gas company's stock after purchasing an additional 28,093 shares during the period. Quotient Wealth Partners LLC owned about 0.72% of Precision Drilling worth $4,561,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in Precision Drilling during the 1st quarter valued at $45,000. Signaturefd LLC raised its position in Precision Drilling by 52.4% during the 2nd quarter. Signaturefd LLC now owns 2,230 shares of the oil and gas company's stock valued at $105,000 after purchasing an additional 767 shares in the last quarter. Aristides Capital LLC bought a new stake in Precision Drilling during the 1st quarter valued at $252,000. Vident Advisory LLC raised its position in Precision Drilling by 8.2% during the 1st quarter. Vident Advisory LLC now owns 6,766 shares of the oil and gas company's stock valued at $315,000 after purchasing an additional 512 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Precision Drilling during the 1st quarter valued at $344,000. 48.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PDS. Zacks Research lowered Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Precision Drilling in a research report on Wednesday, October 8th. Wall Street Zen raised Precision Drilling from a "hold" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada boosted their price target on Precision Drilling from $89.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Piper Sandler reissued an "overweight" rating and issued a $74.00 price target (up from $72.00) on shares of Precision Drilling in a research report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $87.00.

Precision Drilling Trading Down 0.2%

PDS opened at $54.15 on Friday. The firm has a market cap of $713.10 million, a price-to-earnings ratio of 11.40 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33. Precision Drilling Corporation has a 12 month low of $36.20 and a 12 month high of $67.35. The stock has a fifty day moving average price of $56.51 and a 200-day moving average price of $50.10.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last announced its earnings results on Tuesday, July 29th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.79. Precision Drilling had a return on equity of 6.21% and a net margin of 5.67%.The company had revenue of $299.14 million for the quarter, compared to analyst estimates of $435.47 million. As a group, equities research analysts anticipate that Precision Drilling Corporation will post 7.1 earnings per share for the current fiscal year.

Precision Drilling Company 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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