Greatmark Investment Partners Inc. Boosts Stock Holdings in Precision Drilling Co. (NYSE:PDS)

Greatmark Investment Partners Inc. raised its holdings in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 25.1% during the fourth quarter, HoldingsChannel reports. The fund owned 59,627 shares of the oil and gas company’s stock after purchasing an additional 11,955 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Precision Drilling were worth $3,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP bought a new stake in Precision Drilling during the 3rd quarter valued at $4,638,000. MQS Management LLC bought a new stake in Precision Drilling during the 3rd quarter valued at $297,000. Acadian Asset Management LLC raised its holdings in Precision Drilling by 95.0% during the 3rd quarter. Acadian Asset Management LLC now owns 466,048 shares of the oil and gas company’s stock valued at $31,344,000 after acquiring an additional 227,077 shares during the period. Ninepoint Partners LP bought a new stake in Precision Drilling during the 4th quarter valued at $74,649,000. Finally, TD Asset Management Inc raised its holdings in Precision Drilling by 117.2% during the 3rd quarter. TD Asset Management Inc now owns 104,956 shares of the oil and gas company’s stock valued at $7,065,000 after acquiring an additional 56,623 shares during the period. Institutional investors own 48.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler lowered their target price on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. StockNews.com cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday. Two 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.17.

Precision Drilling Price Performance

Shares of Precision Drilling stock traded up $0.50 during trading on Monday, hitting $72.80. The stock had a trading volume of 46,121 shares, compared to its average volume of 86,103. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 6.40 and a beta of 2.11. Precision Drilling Co. has a 12 month low of $41.56 and a 12 month high of $77.21. The business’s 50-day moving average is $66.23 and its 200 day moving average is $60.62. The company has a current ratio of 1.71, a quick ratio of 1.59 and a debt-to-equity ratio of 0.57.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). The firm had revenue of $391.51 million during the quarter, compared to the consensus estimate of $399.44 million. Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. As a group, sell-side analysts anticipate that Precision Drilling Co. will post 6.38 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.