National Bank of Canada FI Increases Stake in Precision Drilling Co. (NYSE:PDS)

National Bank of Canada FI grew its position in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 0.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 729,626 shares of the oil and gas company’s stock after purchasing an additional 3,342 shares during the quarter. National Bank of Canada FI owned 0.05% of Precision Drilling worth $44,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Precision Drilling by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock worth $425,000 after acquiring an additional 424 shares during the last quarter. Signaturefd LLC raised its stake in shares of Precision Drilling by 30.1% in the fourth quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 499 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Precision Drilling by 10.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,477 shares of the oil and gas company’s stock valued at $518,000 after purchasing an additional 824 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of Precision Drilling by 10.8% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 8,477 shares of the oil and gas company’s stock valued at $518,000 after buying an additional 824 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in Precision Drilling by 18.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 7,690 shares of the oil and gas company’s stock worth $510,000 after buying an additional 1,215 shares in the last quarter. Institutional investors own 48.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Securities downgraded shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th.

Precision Drilling Stock Up 0.7 %

PDS stock opened at $48.12 on Thursday. The business’s 50-day moving average is $51.43 and its two-hundred day moving average is $58.43. The company has a market cap of $651.93 million, a price-to-earnings ratio of 8.94 and a beta of 1.53. Precision Drilling Co. has a fifty-two week low of $43.00 and a fifty-two week high of $79.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.64). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. As a group, analysts forecast that Precision Drilling Co. will post 7.1 earnings per share for the current year.

Precision Drilling Company 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.