Precision Drilling Co. (NYSE:PDS) Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its holdings in Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 9.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655,117 shares of the oil and gas company's stock after selling 67,547 shares during the quarter. Royal Bank of Canada owned about 4.75% of Precision Drilling worth $40,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PDS. Arrowstreet Capital Limited Partnership boosted its holdings 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 worth $9,395,000 after acquiring an additional 149,616 shares in the last quarter. Mountain Lake Investment Management LLC raised its position in shares of Precision Drilling by 107.9% in the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company's stock valued at $3,174,000 after purchasing an additional 26,981 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Precision Drilling by 12.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 265,254 shares of the oil and gas company's stock worth $16,198,000 after purchasing an additional 29,612 shares in the last quarter. Quantbot Technologies LP grew 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 during the last quarter. Finally, Greatmark Investment Partners Inc. grew its position in Precision Drilling by 9.0% during the 4th quarter. Greatmark Investment Partners Inc. now owns 91,601 shares of the oil and gas company's stock worth $5,594,000 after purchasing an additional 7,540 shares during the last quarter. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PDS shares. TD Securities downgraded shares of Precision Drilling from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. Raymond James cut Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, April 9th. Finally, Wall Street Zen downgraded Precision Drilling from a "buy" rating to a "hold" rating in a research note on Monday, March 24th.

Precision Drilling Stock Performance

NYSE PDS traded up $1.19 on Friday, hitting $42.24. 56,452 shares of the company's stock traded hands, compared to its average volume of 85,784. The firm's 50-day moving average price is $43.21 and its two-hundred day moving average price is $53.01. The firm has a market capitalization of $571.21 million, a PE ratio of 7.85 and a beta of 1.07. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. Precision Drilling Co. has a 1-year low of $36.20 and a 1-year high of $79.07.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.04). The business had revenue of $345.41 million for the quarter, compared to analyst estimates of $508.06 million. Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. As a group, analysts expect that Precision Drilling Co. will post 7.1 EPS 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.