Intact Investment Management Inc. Has $4.66 Million Stake in Precision Drilling Co. (NYSE:PDS)

Intact Investment Management Inc. increased its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,850 shares of the oil and gas company’s stock after purchasing an additional 3,900 shares during the period. Intact Investment Management Inc. owned 0.60% of Precision Drilling worth $4,662,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in shares of Precision Drilling during the fourth quarter valued at $88,000. Ninepoint Partners LP acquired a new position in Precision Drilling during the 4th quarter valued at about $74,649,000. Wellington Management Group LLP bought a new position in shares of Precision Drilling in the 3rd quarter valued at about $4,638,000. American Century Companies Inc. raised its stake in shares of Precision Drilling by 1,501.2% during the third quarter. American Century Companies Inc. now owns 223,116 shares of the oil and gas company’s stock worth $14,950,000 after buying an additional 209,182 shares during the last quarter. Finally, Scotia Capital Inc. lifted its holdings in Precision Drilling by 23.7% in the third quarter. Scotia Capital Inc. now owns 13,253 shares of the oil and gas company’s stock valued at $886,000 after buying an additional 2,538 shares during the period. Institutional investors and hedge funds own 48.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PDS. Piper Sandler lowered their target price on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. StockNews.com cut Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.17.

Precision Drilling Trading Up 5.1 %

Shares of PDS stock traded up $3.52 on Friday, hitting $72.30. The stock had a trading volume of 168,959 shares, compared to its average volume of 88,338. The firm has a market cap of $1.05 billion, a P/E ratio of 6.35 and a beta of 2.11. Precision Drilling Co. has a twelve month low of $41.56 and a twelve month high of $77.21. The company has a current ratio of 1.40, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $66.23 and a two-hundred day moving average price of $60.63.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). Precision Drilling had a net margin of 12.00% and a return on equity of 10.44%. The company had revenue of $391.51 million during the quarter, compared to the consensus estimate of $399.44 million. As a group, analysts forecast that Precision Drilling Co. will post 6.38 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.