Swiss National Bank Decreases Position in Precision Drilling Corporation $PDS

Swiss National Bank decreased its stake in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,500 shares of the oil and gas company’s stock after selling 400 shares during the period. Swiss National Bank owned approximately 0.20% of Precision Drilling worth $1,279,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Aquatic Capital Management LLC purchased a new stake in shares of Precision Drilling in the fourth quarter worth about $71,000. Deutsche Bank AG purchased a new stake in shares of Precision Drilling in the fourth quarter worth about $85,000. Alberta Investment Management Corp purchased a new stake in shares of Precision Drilling in the first quarter worth about $344,000. Graham Capital Management L.P. purchased a new stake in shares of Precision Drilling in the fourth quarter worth about $346,000. Finally, Orion Resource Partners LP boosted its position in shares of Precision Drilling by 65.6% in the fourth quarter. Orion Resource Partners LP now owns 5,714 shares of the oil and gas company’s stock worth $349,000 after buying an additional 2,263 shares during the period. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PDS. Royal Bank Of Canada upped their target price on Precision Drilling from $89.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Zacks Research raised Precision Drilling from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $74.00 price target (up previously from $72.00) on shares of Precision Drilling in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Precision Drilling has a consensus rating of “Buy” and a consensus price target of $87.00.

Precision Drilling Trading Down 0.6%

Shares of NYSE PDS opened at $56.8830 on Tuesday. The stock’s 50 day moving average price is $51.98 and its two-hundred day moving average price is $47.94. Precision Drilling Corporation has a 52-week low of $36.20 and a 52-week high of $75.19. The stock has a market capitalization of $751.99 million, a P/E ratio of 11.98 and a beta of 1.15. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.33.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Tuesday, July 29th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.79. Precision Drilling had a return on equity of 6.21% and a net margin of 5.67%.The firm had revenue of $299.14 million for the quarter, compared to analysts’ expectations of $435.47 million. On average, analysts anticipate that Precision Drilling Corporation will post 7.1 earnings per share for the current fiscal year.

Precision Drilling 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.