SG Capital Management LLC Takes Position in Precision Drilling Co. (NYSE:PDS)

SG Capital Management LLC bought a new position in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,133 shares of the oil and gas company's stock, valued at approximately $1,779,000. SG Capital Management LLC owned approximately 0.21% of Precision Drilling as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Precision Drilling by 1,579.0% in the 3rd quarter. Barclays PLC now owns 3,358 shares of the oil and gas company's stock worth $207,000 after acquiring an additional 3,158 shares during the period. Franklin Resources Inc. raised its stake in shares of Precision Drilling by 21.9% in the third quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company's stock valued at $3,961,000 after purchasing an additional 11,331 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Precision Drilling by 64.7% in the fourth quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company's stock valued at $203,000 after purchasing an additional 1,295 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Precision Drilling by 10.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,477 shares of the oil and gas company's stock worth $518,000 after purchasing an additional 824 shares during the period. Finally, Mountain Lake Investment Management LLC boosted its stake in Precision Drilling by 107.9% during the fourth quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company's stock worth $3,174,000 after buying an additional 26,981 shares in the last quarter. 48.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PDS has been the subject of a number of recent research reports. TD Securities cut shares of Precision Drilling from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. StockNews.com cut shares of Precision Drilling from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Raymond James lowered shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, April 9th.

Precision Drilling Price Performance

Shares of PDS stock opened at $43.84 on Friday. The stock's fifty day simple moving average is $43.46 and its 200 day simple moving average is $53.91. Precision Drilling Co. has a one year low of $36.20 and a one year high of $79.07. The firm has a market cap of $592.85 million, a price-to-earnings ratio of 8.15 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 (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 the consensus estimate of $1.57 by ($0.04). The firm had revenue of $345.41 million during 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%. On average, analysts expect that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal 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.

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