Greatmark Investment Partners Inc. Has $3.24 Million Stake in Precision Drilling Co. (NYSE:PDS)

Greatmark Investment Partners Inc. raised its holdings in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,627 shares of the oil and gas company’s stock after acquiring an additional 11,955 shares during the period. Greatmark Investment Partners Inc. owned about 0.42% of Precision Drilling worth $3,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ninepoint Partners LP acquired a new position in Precision Drilling in the fourth quarter valued at about $74,649,000. Acadian Asset Management LLC boosted its position in shares of Precision Drilling by 95.0% during the third quarter. Acadian Asset Management LLC now owns 466,048 shares of the oil and gas company’s stock worth $31,344,000 after buying an additional 227,077 shares during the period. American Century Companies Inc. boosted its position in shares of Precision Drilling by 1,501.2% during the third quarter. American Century Companies Inc. now owns 223,116 shares of the oil and gas company’s stock worth $14,950,000 after buying an additional 209,182 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Precision Drilling by 172.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,400 shares of the oil and gas company’s stock worth $12,623,000 after buying an additional 119,200 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of Precision Drilling by 117.2% during the third quarter. TD Asset Management Inc now owns 104,956 shares of the oil and gas company’s stock worth $7,065,000 after buying an additional 56,623 shares during the period. 48.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDS has been the subject of several recent research reports. StockNews.com cut Precision Drilling from a “buy” rating to a “hold” rating in a research report on Friday. Piper Sandler reduced their price objective on Precision Drilling from $100.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.17.

Precision Drilling Stock Up 0.7 %

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

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

Precision Drilling Profile

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.