68,464 Shares in Precision Drilling Corporation (NYSE:PDS) Purchased by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC bought a new position in shares of Precision Drilling Corporation (NYSE:PDS - Free Report) TSE: PD during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 68,464 shares of the oil and gas company's stock, valued at approximately $3,192,000. Quotient Wealth Partners LLC owned about 0.51% of Precision Drilling at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its stake in Precision Drilling by 3,575.9% during the 4th 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 during the last quarter. Bank of Montreal Can grew its stake in Precision Drilling by 28.0% during the 4th 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 during the last quarter. Millennium Management LLC grew its stake in 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 valued at $9,621,000 after purchasing an additional 110,546 shares during the last quarter. Bank of America Corp DE grew its stake in Precision Drilling by 33.3% during the 4th 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 purchasing an additional 98,836 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in Precision Drilling during the 1st quarter valued at about $2,594,000. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen downgraded Precision Drilling from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Raymond James Financial downgraded Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research note on Wednesday, April 9th.

Precision Drilling Stock Performance

Shares of PDS traded down $0.53 during mid-day trading on Friday, reaching $50.70. The company had a trading volume of 47,080 shares, compared to its average volume of 94,367. Precision Drilling Corporation has a 52-week low of $36.20 and a 52-week high of $79.07. The company has a quick ratio of 0.82, a current ratio of 0.91 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $676.78 million, a P/E ratio of 10.08 and a beta of 1.06. The stock has a 50 day moving average of $46.47 and a two-hundred day moving average of $49.90.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last issued its earnings results 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 analysts' expectations of $508.06 million. On average, analysts expect that Precision Drilling Corporation will post 7.1 earnings per share for the current 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.