Invesco Ltd. Has $375,000 Holdings in Precision Drilling Co. (NYSE:PDS)

Invesco Ltd. reduced its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,144 shares of the oil and gas company’s stock after selling 439 shares during the period. Invesco Ltd.’s holdings in Precision Drilling were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. National Bank of Canada FI boosted its holdings in shares of Precision Drilling by 0.5% in the 4th quarter. National Bank of Canada FI now owns 729,626 shares of the oil and gas company’s stock valued at $44,673,000 after purchasing an additional 3,342 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Precision Drilling by 28.0% in the 4th quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company’s stock valued at $36,832,000 after purchasing an additional 131,843 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Precision Drilling by 3,575.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company’s stock valued at $9,395,000 after purchasing an additional 149,616 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Precision Drilling by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 135,908 shares of the oil and gas company’s stock valued at $8,308,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Greatmark Investment Partners Inc. increased its position in Precision Drilling by 9.0% during the 4th quarter. Greatmark Investment Partners Inc. now owns 91,601 shares of the oil and gas company’s stock worth $5,594,000 after purchasing an additional 7,540 shares in the last quarter. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Price Performance

Precision Drilling stock opened at $43.15 on Friday. The stock’s 50 day moving average is $44.27 and its 200 day moving average is $54.90. Precision Drilling Co. has a one year low of $36.20 and a one year high of $79.07. The firm has a market cap of $583.52 million, a P/E ratio of 8.02 and a beta of 1.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The firm 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%. As a group, research analysts expect that Precision Drilling Co. will post 7.1 EPS for the current year.

Analyst Upgrades and Downgrades

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

Precision Drilling Company 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.