TD Waterhouse Canada Inc. Raises Stock Holdings in Precision Drilling Co. (NYSE:PDS)

TD Waterhouse Canada Inc. raised its position in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 96.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,920 shares of the oil and gas company's stock after purchasing an additional 11,257 shares during the quarter. TD Waterhouse Canada Inc. owned 0.17% of Precision Drilling worth $1,398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Precision Drilling by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company's stock valued at $425,000 after purchasing an additional 424 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Precision Drilling by 3,575.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company's stock valued at $9,395,000 after purchasing an additional 149,616 shares in the last quarter. Mountain Lake Investment Management LLC increased its stake in Precision Drilling by 107.9% in the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company's stock worth $3,174,000 after acquiring an additional 26,981 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Precision Drilling by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company's stock worth $3,961,000 after acquiring an additional 11,331 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of 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 valued at $137,000 after acquiring an additional 2,125 shares during the last quarter. Hedge funds and other institutional investors own 48.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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 downgraded Precision Drilling from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Raymond James cut Precision Drilling from a "strong-buy" rating to an "outperform" rating in a report on Wednesday, April 9th.

Precision Drilling Stock Down 3.1 %

PDS stock traded down $1.35 during trading on Wednesday, hitting $41.93. 18,753 shares of the company's stock traded hands, compared to its average volume of 131,630. The business has a fifty day simple moving average of $44.89 and a two-hundred day simple moving average of $55.28. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $566.95 million, a P/E ratio of 7.81 and a beta of 1.53. Precision Drilling Co. has a 1 year low of $36.20 and a 1 year high of $79.07.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.04). The company had revenue of $345.41 million during the quarter, compared to analysts' expectations of $508.06 million. Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. Sell-side analysts anticipate that Precision Drilling Co. will post 7.1 EPS for the current 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.