Geode Capital Management LLC Has $450,000 Holdings in Precision Drilling Co. (NYSE:PDS)

Geode Capital Management LLC increased its stake in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,285 shares of the oil and gas company’s stock after buying an additional 418 shares during the period. Geode Capital Management LLC owned 0.05% of Precision Drilling worth $450,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in Precision Drilling by 1,579.0% during the 3rd quarter. Barclays PLC now owns 3,358 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 3,158 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Precision Drilling by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock worth $3,961,000 after buying an additional 11,331 shares during the period. Blue Trust Inc. grew its position in shares of Precision Drilling by 64.7% during the 4th quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company’s stock worth $203,000 after buying an additional 1,295 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Precision Drilling by 10.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,477 shares of the oil and gas company’s stock worth $518,000 after acquiring an additional 824 shares during the last quarter. Finally, Mountain Lake Investment Management LLC boosted its stake in Precision Drilling by 107.9% during the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock worth $3,174,000 after acquiring an additional 26,981 shares during the last quarter. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Price Performance

Shares of PDS opened at $43.15 on Friday. Precision Drilling Co. has a 1-year low of $36.20 and a 1-year high of $79.07. The company has a market cap of $583.43 million, a price-to-earnings ratio of 8.02 and a beta of 1.53. The company’s fifty day simple moving average is $44.27 and its 200 day simple moving average is $54.94. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.04). The company had revenue of $345.41 million for the quarter, compared to the consensus estimate of $508.06 million. Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. On average, research analysts forecast that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PDS shares. TD Securities lowered shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Raymond James cut Precision Drilling from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, April 9th.

About Precision Drilling

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.