SG Capital Management LLC Invests $1.78 Million in Precision Drilling Co. (NYSE:PDS)

SG Capital Management LLC purchased a new position in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,133 shares of the oil and gas company's stock, valued at approximately $1,779,000. SG Capital Management LLC owned 0.21% of Precision Drilling as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new position in shares of Precision Drilling during the 4th quarter valued at about $71,000. Deutsche Bank AG acquired a new stake in shares of Precision Drilling in the fourth quarter worth $85,000. Signaturefd LLC grew its stake in Precision Drilling by 30.1% in the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock valued at $132,000 after buying an additional 499 shares during 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 during the last quarter. Finally, Blue Trust Inc. boosted its stake 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 valued at $203,000 after purchasing an additional 1,295 shares during the period. 48.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Precision Drilling Trading Down 1.2%

Shares of PDS stock traded down $0.52 on Wednesday, reaching $41.94. The company had a trading volume of 47,703 shares, compared to its average volume of 85,127. The company has a 50-day moving average of $43.40 and a 200-day moving average of $53.53. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The stock has a market cap of $567.09 million, a PE ratio of 7.80 and a beta of 1.07. Precision Drilling Co. has a 12 month low of $36.20 and a 12 month high of $79.07.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last released its quarterly earnings data on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. The firm had revenue of $345.41 million for the quarter, compared to analyst estimates of $508.06 million. On average, equities analysts forecast 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.