TD Asset Management Inc Lowers Stock Holdings in Precision Drilling Co. (NYSE:PDS)

TD Asset Management Inc reduced its stake in Precision Drilling Co. (NYSE:PDSFree Report) (TSE:PD) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 94,304 shares of the oil and gas company’s stock after selling 10,652 shares during the quarter. TD Asset Management Inc owned 0.66% of Precision Drilling worth $5,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ninepoint Partners LP purchased a new position in shares of Precision Drilling in the 4th quarter valued at approximately $74,649,000. Acadian Asset Management LLC grew its stake in shares of Precision Drilling by 95.0% in the 3rd quarter. Acadian Asset Management LLC now owns 466,048 shares of the oil and gas company’s stock valued at $31,344,000 after purchasing an additional 227,077 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Precision Drilling by 1,501.2% in the 3rd quarter. American Century Companies Inc. now owns 223,116 shares of the oil and gas company’s stock valued at $14,950,000 after buying an additional 209,182 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Precision Drilling by 172.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,400 shares of the oil and gas company’s stock valued at $12,623,000 after buying an additional 119,200 shares during the period. Finally, NewGen Asset Management Ltd lifted its holdings in shares of Precision Drilling by 27.8% in the 4th quarter. NewGen Asset Management Ltd now owns 123,970 shares of the oil and gas company’s stock valued at $6,730,000 after buying an additional 27,000 shares during the period. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PDS shares. Piper Sandler raised their price target on Precision Drilling from $81.00 to $101.00 and gave the company an “overweight” rating in a report on Monday, May 6th. StockNews.com cut Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.50.

Check Out Our Latest Research Report on Precision Drilling

Precision Drilling Stock Performance

Shares of PDS stock opened at $66.96 on Thursday. The stock has a fifty day moving average price of $71.00 and a 200 day moving average price of $62.86. The stock has a market cap of $968.91 million, a PE ratio of 5.88 and a beta of 2.01. Precision Drilling Co. has a 1 year low of $44.52 and a 1 year 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.

Precision Drilling (NYSE:PDSGet Free Report) (TSE:PD) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.12). Precision Drilling had a return on equity of 10.10% and a net margin of 12.00%. The firm had revenue of $391.51 million for the quarter, compared to analyst estimates of $399.44 million. Sell-side analysts forecast that Precision Drilling Co. will post 6.21 earnings per share for the current fiscal year.

About Precision Drilling

(Free Report)

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.

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

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