Shell Asset Management Co. Has $238,000 Position in Precision Drilling Corp. (PDS)
Shell Asset Management Co. increased its stake in shares of Precision Drilling Corp. (NYSE:PDS) by 14.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,700 shares of the company’s stock after buying an additional 4,300 shares during the period. Shell Asset Management Co.’s holdings in Precision Drilling Corp. were worth $238,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in PDS. BlackRock Institutional Trust Company N.A. acquired a new stake in Precision Drilling Corp. during the first quarter valued at approximately $140,000. Aperio Group LLC boosted its stake in Precision Drilling Corp. by 488.3% in the first quarter. Aperio Group LLC now owns 189,313 shares of the company’s stock valued at $795,000 after buying an additional 157,133 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Precision Drilling Corp. by 427.7% in the first quarter. Canada Pension Plan Investment Board now owns 467,000 shares of the company’s stock valued at $1,964,000 after buying an additional 378,500 shares in the last quarter. CIBC World Markets Inc. boosted its stake in Precision Drilling Corp. by 11.4% in the second quarter. CIBC World Markets Inc. now owns 393,407 shares of the company’s stock valued at $2,085,000 after buying an additional 40,363 shares in the last quarter. Finally, Foundation Resource Management Inc. boosted its stake in Precision Drilling Corp. by 1.2% in the second quarter. Foundation Resource Management Inc. now owns 581,060 shares of the company’s stock valued at $3,080,000 after buying an additional 7,121 shares in the last quarter. Institutional investors own 72.90% of the company’s stock.
Precision Drilling Corp. (NYSE:PDS) traded down 4.00% during trading on Wednesday, hitting $4.56. The stock had a trading volume of 6,394,235 shares. Precision Drilling Corp. has a 1-year low of $2.43 and a 1-year high of $6.08. The firm’s 50-day moving average price is $4.11 and its 200-day moving average price is $4.55. The stock’s market cap is $1.34 billion.
Precision Drilling Corp. (NYSE:PDS) last posted its earnings results on Thursday, July 21st. The company reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. The company earned $164 million during the quarter, compared to analyst estimates of $172.98 million. Precision Drilling Corp. had a negative return on equity of 5.54% and a negative net margin of 37.17%. The business’s revenue was down 51.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) earnings per share. On average, equities research analysts predict that Precision Drilling Corp. will post ($0.48) earnings per share for the current fiscal year.
PDS has been the subject of several recent analyst reports. DA Davidson initiated coverage on Precision Drilling Corp. in a report on Thursday, September 15th. They issued a “buy” rating for the company. Jefferies Group reissued a “sell” rating and issued a $4.00 price target on shares of Precision Drilling Corp. in a report on Tuesday, July 26th. Zacks Investment Research raised Precision Drilling Corp. from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a report on Friday, July 15th. TD Securities reissued a “buy” rating and issued a $8.50 price target (down from $9.50) on shares of Precision Drilling Corp. in a report on Tuesday, July 26th. Finally, Scotiabank reissued an “underperform” rating and issued a $6.00 price target (up from $3.50) on shares of Precision Drilling Corp. in a report on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. Precision Drilling Corp. currently has an average rating of “Hold” and an average price target of $5.65.
About Precision Drilling Corp.
Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. It operates through two segments: Contract Drilling Services, and Completion and Production Services.
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