Greatmark Investment Partners Inc. Acquires 11,955 Shares of Precision Drilling Co. (NYSE:PDS)

Greatmark Investment Partners Inc. lifted its holdings in Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 25.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,627 shares of the oil and gas company's stock after buying an additional 11,955 shares during the quarter. Greatmark Investment Partners Inc. owned approximately 0.42% of Precision Drilling worth $3,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Intact Investment Management Inc. grew its position in shares of Precision Drilling by 4.8% in the 4th quarter. Intact Investment Management Inc. now owns 85,850 shares of the oil and gas company's stock worth $4,662,000 after buying an additional 3,900 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Precision Drilling in the 4th quarter worth about $88,000. Ninepoint Partners LP purchased a new stake in Precision Drilling during the 4th quarter valued at about $74,649,000. Wellington Management Group LLP purchased a new stake in Precision Drilling during the 3rd quarter valued at about $4,638,000. Finally, American Century Companies Inc. grew its position in Precision Drilling by 1,501.2% during the 3rd quarter. American Century Companies Inc. now owns 223,116 shares of the oil and gas company's stock valued at $14,950,000 after purchasing an additional 209,182 shares during the last quarter. 48.86% of the stock is owned by hedge funds and other institutional investors.

Precision Drilling Stock Performance

Shares of NYSE PDS traded up $1.08 during trading on Monday, reaching $73.38. 81,081 shares of the company traded hands, compared to its average volume of 86,564. The firm has a 50 day simple moving average of $66.44 and a 200-day simple moving average of $60.71. The company has a quick ratio of 1.59, a current ratio of 1.71 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.06 billion, a PE ratio of 6.45 and a beta of 2.11. Precision Drilling Co. has a 52-week low of $41.56 and a 52-week high of $77.21.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($0.12). The company had revenue of $391.51 million for the quarter, compared to analysts' expectations of $399.44 million. Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. Equities research analysts anticipate that Precision Drilling Co. will post 6.38 earnings per share for the current year.

Analysts Set New Price Targets

PDS has been the topic of several recent analyst reports. Piper Sandler cut their price objective on shares of Precision Drilling from $100.00 to $81.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 20th. StockNews.com downgraded shares of Precision Drilling from a "buy" rating to a "hold" rating in a research report on Friday. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $115.17.

About Precision Drilling

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.