Precision Drilling Corporation $PDS Shares Bought by Aegis Financial Corp

Aegis Financial Corp grew its position in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 110.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 452,359 shares of the oil and gas company’s stock after purchasing an additional 236,963 shares during the period. Precision Drilling makes up 9.8% of Aegis Financial Corp’s holdings, making the stock its 3rd largest position. Aegis Financial Corp owned approximately 3.43% of Precision Drilling worth $25,486,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in Precision Drilling in the first quarter valued at approximately $45,000. Goldman Sachs Group Inc. lifted its stake in Precision Drilling by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,896 shares of the oil and gas company’s stock valued at $6,475,000 after acquiring an additional 30,690 shares during the period. Geode Capital Management LLC lifted its stake in Precision Drilling by 20.3% during the 2nd quarter. Geode Capital Management LLC now owns 65,512 shares of the oil and gas company’s stock valued at $3,095,000 after acquiring an additional 11,056 shares during the period. Creative Planning purchased a new stake in shares of Precision Drilling in the 2nd quarter valued at $378,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Precision Drilling by 275.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 387,598 shares of the oil and gas company’s stock worth $18,338,000 after acquiring an additional 284,384 shares during the period. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Precision Drilling in a research report on Wednesday, January 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Precision Drilling in a research note on Thursday, February 12th. Piper Sandler restated an “overweight” rating and issued a $105.00 target price (up from $81.00) on shares of Precision Drilling in a research note on Tuesday, February 17th. ATB Cormark Capital Markets upgraded Precision Drilling to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $124.00 price target (up from $119.00) on shares of Precision Drilling in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.50.

Precision Drilling Price Performance

Shares of NYSE PDS opened at $85.97 on Friday. The firm has a 50-day simple moving average of $78.33 and a 200-day simple moving average of $65.57. The company has a quick ratio of 1.46, a current ratio of 1.62 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -220.42 and a beta of 1.04. Precision Drilling Corporation has a 52 week low of $36.20 and a 52 week high of $92.40.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.26. Precision Drilling had a net margin of 0.05% and a return on equity of 4.12%. The company had revenue of $349.37 million during the quarter, compared to analysts’ expectations of $489.80 million. On average, equities analysts predict that Precision Drilling Corporation will post 7.1 earnings per share for the current fiscal year.

Precision Drilling Profile

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.