Cibc World Market Inc. Acquires 13,749 Shares of Precision Drilling Co. (NYSE:PDS)

Cibc World Market Inc. lifted its holdings in shares of Precision Drilling Co. (NYSE:PDSGet Rating) (TSE:PD) by 178.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 21,453 shares of the oil and gas company’s stock after purchasing an additional 13,749 shares during the period. Cibc World Market Inc. owned 0.16% of Precision Drilling worth $1,378,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PDS. Versor Investments LP bought a new stake in shares of Precision Drilling during the first quarter worth $566,000. Janney Montgomery Scott LLC bought a new stake in shares of Precision Drilling during the first quarter worth $400,000. Toronto Dominion Bank grew its holdings in shares of Precision Drilling by 692.3% during the first quarter. Toronto Dominion Bank now owns 43,482 shares of the oil and gas company’s stock worth $3,229,000 after purchasing an additional 37,994 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Precision Drilling during the first quarter worth $839,000. Finally, Beirne Wealth Consulting Services LLC grew its holdings in shares of Precision Drilling by 2.1% during the first quarter. Beirne Wealth Consulting Services LLC now owns 15,877 shares of the oil and gas company’s stock worth $1,174,000 after purchasing an additional 324 shares during the last quarter. Institutional investors own 45.59% of the company’s stock.

Precision Drilling Price Performance

NYSE:PDS opened at $79.47 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.36 and a debt-to-equity ratio of 1.01. Precision Drilling Co. has a 52-week low of $29.26 and a 52-week high of $87.36. The stock has a 50-day simple moving average of $65.11 and a 200 day simple moving average of $65.73.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PDS shares. StockNews.com raised Precision Drilling from a “hold” rating to a “buy” rating in a research note on Sunday, October 30th. Piper Sandler upped their price target on Precision Drilling to $128.00 in a research note on Tuesday, November 1st. TheStreet raised Precision Drilling from a “d+” rating to a “c-” rating in a research note on Friday, October 28th. BMO Capital Markets upped their price target on Precision Drilling from C$130.00 to C$140.00 in a research note on Thursday, July 28th. Finally, Stifel Nicolaus upped their price target on Precision Drilling from C$140.00 to C$165.00 in a research note on Friday, October 28th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $126.11.

About Precision Drilling

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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 in two segments, Contract Drilling Services; and Completion and Production Services.

See Also

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Institutional Ownership by Quarter for Precision Drilling (NYSE:PDS)

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