Precision Drilling Co. (NYSE:PDS) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. decreased its holdings in Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 47.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,000 shares of the oil and gas company's stock after selling 32,600 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.26% of Precision Drilling worth $2,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aquatic Capital Management LLC purchased a new stake in shares of Precision Drilling during the 4th quarter worth about $71,000. Deutsche Bank AG purchased a new stake in shares of Precision Drilling during the 4th quarter worth about $85,000. Signaturefd LLC lifted its position in Precision Drilling by 30.1% during the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock worth $132,000 after acquiring an additional 499 shares in the last quarter. Quantbot Technologies LP lifted 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 acquiring an additional 2,125 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Precision Drilling by 64.7% during the 4th quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company's stock worth $203,000 after acquiring an additional 1,295 shares in the last quarter. Hedge funds and other institutional investors own 48.86% of the company's stock.

Precision Drilling Stock Down 0.8%

Shares of PDS traded down $0.35 during trading on Thursday, reaching $41.09. The company's stock had a trading volume of 21,484 shares, compared to its average volume of 85,231. The company has a fifty day moving average of $43.34 and a two-hundred day moving average of $53.44. Precision Drilling Co. has a twelve month low of $36.20 and a twelve month high of $79.07. The company has a market cap of $555.66 million, a price-to-earnings ratio of 7.64 and a beta of 1.07. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last announced 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). Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. The business had revenue of $345.41 million during the quarter, compared to analyst estimates of $508.06 million. On average, sell-side analysts predict that Precision Drilling Co. will post 7.1 EPS for the current fiscal year.

Analyst Ratings Changes

PDS has been the topic of several recent research reports. Wall Street Zen lowered Precision Drilling from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Raymond James lowered Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, April 9th. Finally, TD Securities lowered Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd.

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.