Wellington Management Group LLP Has $8.31 Million Position in Precision Drilling Co. (NYSE:PDS)

Wellington Management Group LLP boosted its stake in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,908 shares of the oil and gas company’s stock after purchasing an additional 2,200 shares during the quarter. Wellington Management Group LLP’s holdings in Precision Drilling were worth $8,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC grew its position 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 valued at $132,000 after purchasing an additional 499 shares during the last quarter. Quantbot Technologies LP increased its position in Precision Drilling by 1,741.8% in the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock worth $137,000 after buying an additional 2,125 shares during the period. Blue Trust Inc. lifted its holdings in shares of Precision Drilling by 64.7% during the fourth quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company’s stock worth $203,000 after buying an additional 1,295 shares during the last quarter. Barclays PLC boosted its position in shares of Precision Drilling by 1,579.0% in the third quarter. Barclays PLC now owns 3,358 shares of the oil and gas company’s stock valued at $207,000 after acquiring an additional 3,158 shares during the period. Finally, Guardian Partners Inc. acquired a new stake in shares of Precision Drilling in the fourth quarter worth $217,000. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Raymond James downgraded shares of Precision Drilling from a “strong-buy” rating to an “outperform” rating in a report on Wednesday. StockNews.com downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd.

Precision Drilling Stock Down 7.5 %

PDS opened at $40.81 on Friday. Precision Drilling Co. has a fifty-two week low of $36.20 and a fifty-two week high of $79.07. The company has a market capitalization of $552.88 million, a P/E ratio of 7.59 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. The firm’s fifty day moving average price is $48.34 and its two-hundred day moving average price is $57.11.

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