Versor Investments LP Buys Shares of 6,624 Precision Drilling Corporation $PDS

Versor Investments LP bought a new stake in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 6,624 shares of the oil and gas company’s stock, valued at approximately $475,000.

Several other large investors have also recently bought and sold shares of the stock. Wolverine Asset Management LLC increased its stake in Precision Drilling by 112.9% during the 4th quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 7,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Precision Drilling by 19.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the oil and gas company’s stock worth $367,000 after purchasing an additional 842 shares during the last quarter. Greatmark Investment Partners Inc. grew its stake in shares of Precision Drilling by 1.2% in the 4th quarter. Greatmark Investment Partners Inc. now owns 122,494 shares of the oil and gas company’s stock worth $8,803,000 after purchasing an additional 1,510 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Precision Drilling by 180.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 37,579 shares of the oil and gas company’s stock worth $2,118,000 after purchasing an additional 24,203 shares during the last quarter. Finally, PharVision Advisers LLC acquired a new position in shares of Precision Drilling in the 3rd quarter worth approximately $325,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Stock Performance

Precision Drilling stock opened at $93.87 on Friday. The firm’s 50 day simple moving average is $93.53 and its 200-day simple moving average is $79.39. The company has a market cap of $1.21 billion, a P/E ratio of -99.86 and a beta of 0.79. 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 fifty-two week low of $40.39 and a fifty-two week high of $103.80.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Wednesday, February 11th. The oil and gas company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.26. The business had revenue of $349.37 million for the quarter, compared to the consensus estimate of $489.80 million. Precision Drilling had a negative net margin of 0.79% and a positive return on equity of 3.16%. As a group, equities research analysts predict that Precision Drilling Corporation will post 5.49 EPS for the current year.

Wall Street Analyst Weigh In

PDS has been the topic of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price objective (up from $81.00) on shares of Precision Drilling in a research note on Tuesday, February 17th. Loop Capital set a $122.00 price objective on shares of Precision Drilling in a research note on Monday, March 2nd. Weiss Ratings raised shares of Precision Drilling from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. TD Securities reaffirmed a “hold” rating on shares of Precision Drilling in a research note on Friday, May 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Precision Drilling in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $122.33.

Precision Drilling Company 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.