Signaturefd LLC Buys 767 Shares of Precision Drilling Corporation $PDS

Signaturefd LLC grew its stake in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 52.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,230 shares of the oil and gas company’s stock after buying an additional 767 shares during the quarter. Signaturefd LLC’s holdings in Precision Drilling were worth $105,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Nuveen LLC bought a new position in shares of Precision Drilling during the 1st quarter valued at approximately $22,637,000. Acadian Asset Management LLC purchased a new stake in shares of Precision Drilling in the first quarter worth $6,813,000. Polar Asset Management Partners Inc. raised its position in shares of Precision Drilling by 200.0% during the 1st quarter. Polar Asset Management Partners Inc. now owns 108,000 shares of the oil and gas company’s stock valued at $5,026,000 after purchasing an additional 72,000 shares during the period. Aegis Financial Corp lifted its stake in shares of Precision Drilling by 58.1% during the 1st quarter. Aegis Financial Corp now owns 195,505 shares of the oil and gas company’s stock valued at $9,089,000 after buying an additional 71,867 shares in the last quarter. Finally, Quotient Wealth Partners LLC bought a new position in Precision Drilling in the 1st quarter worth $3,192,000. 48.86% of the stock is owned by hedge funds and other institutional investors.

Precision Drilling Price Performance

PDS opened at $58.07 on Friday. The business has a fifty day moving average of $56.30 and a 200 day moving average of $49.49. The stock has a market cap of $765.30 million, a P/E ratio of 12.22 and a beta of 1.11. 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 Corporation has a 52-week low of $36.20 and a 52-week high of $67.35.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Tuesday, July 29th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.79. The business had revenue of $299.14 million during 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%. As a group, sell-side analysts anticipate that Precision Drilling Corporation will post 7.1 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on PDS shares. Weiss Ratings restated a “hold (c)” rating on shares of Precision Drilling in a research report on Saturday, September 27th. Royal Bank Of Canada boosted their price target on Precision Drilling from $89.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Zacks Research downgraded Precision Drilling from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $74.00 price objective (up previously from $72.00) on shares of Precision Drilling in a research report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Precision Drilling has an average rating of “Moderate Buy” and an average target price of $87.00.

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.