Y Intercept Hong Kong Ltd Grows Position in Precision Drilling Corporation $PDS

Y Intercept Hong Kong Ltd grew its position in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 298.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,396 shares of the oil and gas company’s stock after acquiring an additional 8,536 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Precision Drilling were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PDS. State of Wyoming grew its holdings in shares of Precision Drilling by 4.0% in the fourth quarter. State of Wyoming now owns 4,490 shares of the oil and gas company’s stock valued at $323,000 after purchasing an additional 173 shares in the last quarter. SIR Capital Management L.P. lifted its position in Precision Drilling by 0.4% during the fourth quarter. SIR Capital Management L.P. now owns 56,178 shares of the oil and gas company’s stock valued at $4,031,000 after purchasing an additional 200 shares during the last quarter. US Bancorp DE grew its stake in shares of Precision Drilling by 52.3% in the 3rd quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after buying an additional 408 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Precision Drilling by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 8,853 shares of the oil and gas company’s stock worth $632,000 after buying an additional 445 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Precision Drilling by 6.2% in the 3rd quarter. Creative Planning now owns 8,503 shares of the oil and gas company’s stock worth $479,000 after buying an additional 496 shares during the last quarter. 48.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PDS. TD Securities restated a “hold” rating on shares of Precision Drilling in a research report on Friday, May 1st. Weiss Ratings cut Precision Drilling from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. BMO Capital Markets restated an “outperform” rating on shares of Precision Drilling in a research report on Thursday, April 30th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Precision Drilling in a research note on Friday, May 1st. Finally, Zacks Research cut Precision Drilling from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.33.

Precision Drilling Trading Down 0.5%

Shares of Precision Drilling stock traded down $0.41 during trading on Friday, hitting $80.22. The stock had a trading volume of 70,884 shares, compared to its average volume of 84,080. Precision Drilling Corporation has a 12 month low of $48.59 and a 12 month high of $103.80. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.52. The firm’s fifty day simple moving average is $88.66 and its 200-day simple moving average is $86.64. The stock has a market cap of $1.04 billion, a PE ratio of -85.34 and a beta of 0.76.

About Precision Drilling

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.