Precision Drilling Co. (NYSE:PDS) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 265,254 shares of the oil and gas company’s stock after buying an additional 29,612 shares during the quarter. Dimensional Fund Advisors LP owned about 1.92% of Precision Drilling worth $16,198,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Precision Drilling by 3,575.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company’s stock valued at $9,395,000 after acquiring an additional 149,616 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Precision Drilling by 28.0% during 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 buying an additional 131,843 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Precision Drilling by 190.0% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 81,500 shares of the oil and gas company’s stock worth $4,982,000 after buying an additional 53,400 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Precision Drilling in the fourth quarter worth $2,492,000. Finally, Mountain Lake Investment Management LLC raised its holdings in Precision Drilling by 107.9% in the fourth quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock valued at $3,174,000 after acquiring an additional 26,981 shares in the last quarter. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Precision Drilling Price Performance

Shares of NYSE:PDS opened at $41.01 on Friday. The company has a market cap of $554.55 million, a PE ratio of 7.62 and a beta of 1.07. Precision Drilling Co. has a fifty-two week low of $36.20 and a fifty-two week high of $79.07. The firm has a 50-day simple moving average of $43.60 and a 200 day simple moving average of $54.40. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly 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). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. The company had revenue of $345.41 million for the quarter, compared to analyst estimates of $508.06 million. On average, sell-side analysts anticipate that Precision Drilling Co. will post 7.1 EPS for the current year.

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.