Precision Drilling Corporation $PDS is Equinox Partners Investment Management LLC’s 10th Largest Position

Equinox Partners Investment Management LLC increased its holdings in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 116.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,211 shares of the oil and gas company’s stock after purchasing an additional 35,100 shares during the period. Precision Drilling makes up about 2.6% of Equinox Partners Investment Management LLC’s investment portfolio, making the stock its 10th largest position. Equinox Partners Investment Management LLC’s holdings in Precision Drilling were worth $6,415,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PDS. Cubist Systematic Strategies LLC purchased a new position in shares of Precision Drilling in the 1st quarter worth $45,000. Quarry LP bought a new position in shares of Precision Drilling in the 3rd quarter valued at about $54,000. Raymond James Financial Inc. purchased a new position in Precision Drilling in the second quarter worth about $57,000. Wolverine Asset Management LLC increased its stake in Precision Drilling by 112.9% during the fourth quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 7,000 shares during the last quarter. Finally, US Bancorp DE increased its stake in Precision Drilling by 52.3% during the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Precision Drilling Price Performance

Shares of PDS stock opened at $76.75 on Wednesday. The company’s 50-day simple moving average is $91.07 and its two-hundred day simple moving average is $86.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.52. Precision Drilling Corporation has a one year low of $46.44 and a one year high of $103.80. The company has a market capitalization of $991.64 million, a P/E ratio of -81.65 and a beta of 0.76.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Precision Drilling in a research note on Friday, May 1st. BMO Capital Markets restated an “outperform” rating on shares of Precision Drilling in a report on Thursday, April 30th. TD Securities restated a “hold” rating on shares of Precision Drilling in a research report on Friday, May 1st. Wall Street Zen cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Precision Drilling from $124.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.33.

Precision Drilling Profile

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.