Northwestern Mutual Wealth Management Co. Acquires 116,689 Shares of Precision Drilling Corporation $PDS

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 11,668,900.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 116,690 shares of the oil and gas company’s stock after purchasing an additional 116,689 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Precision Drilling were worth $8,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI lifted its holdings in Precision Drilling by 0.6% during the 3rd quarter. National Bank of Canada FI now owns 735,460 shares of the oil and gas company’s stock worth $41,265,000 after purchasing an additional 4,236 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Precision Drilling by 24.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 483,937 shares of the oil and gas company’s stock worth $27,262,000 after purchasing an additional 96,339 shares during the last quarter. Aegis Financial Corp lifted its holdings in Precision Drilling by 110.0% during the 3rd quarter. Aegis Financial Corp now owns 452,359 shares of the oil and gas company’s stock worth $25,486,000 after purchasing an additional 236,963 shares during the last quarter. Picton Mahoney Asset Management lifted its holdings in Precision Drilling by 100.0% during the 3rd quarter. Picton Mahoney Asset Management now owns 245,981 shares of the oil and gas company’s stock worth $13,851,000 after purchasing an additional 122,974 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Precision Drilling by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,896 shares of the oil and gas company’s stock worth $6,475,000 after purchasing an additional 30,690 shares during the last quarter. 48.86% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Price Performance

Precision Drilling stock opened at $93.17 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.52 and a current ratio of 1.70. Precision Drilling Corporation has a 52 week low of $43.81 and a 52 week high of $103.80. The stock has a market capitalization of $1.21 billion, a P/E ratio of -99.12 and a beta of 0.76. The stock has a fifty day moving average of $94.05 and a 200-day moving average of $82.40.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PDS shares. TD Securities reissued a “hold” rating on shares of Precision Drilling in a report on Friday, May 1st. Weiss Ratings cut Precision Drilling from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Wall Street Zen cut Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price objective (up from $81.00) on shares of Precision Drilling in a report on Tuesday, February 17th. Finally, Loop Capital set a $122.00 price objective on Precision Drilling in a report on Monday, March 2nd. One 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.33.

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.