Precision Drilling Co. (NYSE:PDS) Stake Lifted by Bank of America Corp DE

Bank of America Corp DE boosted its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 33.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 396,072 shares of the oil and gas company’s stock after buying an additional 98,836 shares during the period. Bank of America Corp DE owned 2.87% of Precision Drilling worth $24,188,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new position in shares of Precision Drilling during the fourth quarter worth about $71,000. Signaturefd LLC lifted its position in Precision Drilling by 30.1% in the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock valued at $132,000 after purchasing an additional 499 shares during the last quarter. Quantbot Technologies LP boosted its stake in Precision Drilling by 1,741.8% during the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 2,125 shares during the period. Blue Trust Inc. boosted its stake in 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 valued at $203,000 after purchasing an additional 1,295 shares during the period. Finally, Barclays PLC grew its position in Precision Drilling by 1,579.0% in 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. 48.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PDS has been the topic of a number of recent analyst reports. StockNews.com cut Precision Drilling from a “buy” rating to a “hold” rating in a report on Monday, March 24th. TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, Raymond James downgraded Precision Drilling from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, April 9th.

Precision Drilling Stock Performance

PDS stock opened at $43.40 on Monday. The company has a 50-day simple moving average of $43.46 and a 200 day simple moving average of $53.72. The company has a market capitalization of $586.90 million, a P/E ratio of 8.07 and a beta of 1.07. 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 Co. has a fifty-two week low of $36.20 and a fifty-two week high of $79.07.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts predict that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal year.

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.