Charles Schwab Investment Management Inc. Has $1.44 Million Stake in Precision Drilling Corporation $PDS

Charles Schwab Investment Management Inc. increased its position in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,023 shares of the oil and gas company’s stock after purchasing an additional 835 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.23% of Precision Drilling worth $1,442,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PDS. Aquatic Capital Management LLC purchased a new stake in shares of Precision Drilling during the 4th quarter valued at $71,000. Deutsche Bank AG purchased a new position in shares of Precision Drilling during the fourth quarter worth about $85,000. Alberta Investment Management Corp purchased a new stake in Precision Drilling in the first quarter worth approximately $344,000. Graham Capital Management L.P. purchased a new stake in Precision Drilling in the fourth quarter worth approximately $346,000. Finally, MQS Management LLC purchased a new stake in shares of Precision Drilling during the first quarter valued at approximately $420,000. 48.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank Of Canada upped their target price on Precision Drilling from $89.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Piper Sandler restated an “overweight” rating and set a $74.00 price target (up from $72.00) on shares of Precision Drilling in a report on Thursday, August 14th. Finally, Zacks Research raised Precision Drilling from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $87.00.

Precision Drilling Price Performance

Shares of Precision Drilling stock opened at $57.87 on Tuesday. The stock has a market cap of $765.08 million, a price-to-earnings ratio of 12.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.01. The stock has a 50 day moving average price of $52.65 and a 200-day moving average price of $47.97. Precision Drilling Corporation has a one year low of $36.20 and a one year high of $74.17.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Tuesday, July 29th. The oil and gas company reported $0.77 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.79. The company had revenue of $299.14 million for the quarter, compared to the consensus estimate of $435.47 million. Precision Drilling had a return on equity of 6.21% and a net margin of 5.67%. Equities analysts expect that Precision Drilling Corporation 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.