PDT Partners LLC Increases Stock Position in Precision Drilling Co. (NYSE:PDS)

PDT Partners LLC grew its stake in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 91.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,784 shares of the oil and gas company's stock after purchasing an additional 7,520 shares during the period. PDT Partners LLC owned about 0.11% of Precision Drilling worth $964,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PDS. National Bank of Canada FI raised its holdings in shares of Precision Drilling by 0.5% in the fourth quarter. National Bank of Canada FI now owns 729,626 shares of the oil and gas company's stock valued at $44,673,000 after purchasing an additional 3,342 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Precision Drilling by 28.0% during the fourth quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company's stock worth $36,832,000 after acquiring an additional 131,843 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Precision Drilling by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 265,254 shares of the oil and gas company's stock valued at $16,198,000 after buying an additional 29,612 shares in the last quarter. Arrowstreet Capital Limited Partnership raised 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 worth $9,395,000 after buying an additional 149,616 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Precision Drilling by 1.6% during 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 during the period. 48.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PDS shares. TD Securities downgraded Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Raymond James cut shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research note on Wednesday, April 9th. Finally, StockNews.com cut shares of Precision Drilling from a "buy" rating to a "hold" rating in a research report on Monday, March 24th.

Precision Drilling Price Performance

NYSE PDS traded down $1.84 on Monday, reaching $41.33. 61,338 shares of the company's stock traded hands, compared to its average volume of 84,109. The stock has a market cap of $558.91 million, a PE ratio of 7.70 and a beta of 1.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. Precision Drilling Co. has a 12 month low of $36.20 and a 12 month high of $79.07. The stock has a 50-day simple moving average of $44.27 and a 200 day simple moving average of $54.86.

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 6.72% and a net margin of 5.87%. The business had revenue of $345.41 million during the quarter, compared to analysts' expectations of $508.06 million. As a group, research analysts predict that Precision Drilling Co. will post 7.1 earnings per share for the current year.

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.