Dynamic Technology Lab Private Ltd Buys Shares of 10,337 Precision Drilling Corporation $PDS

Dynamic Technology Lab Private Ltd bought a new position in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,337 shares of the oil and gas company’s stock, valued at approximately $583,000. Dynamic Technology Lab Private Ltd owned 0.08% of Precision Drilling as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Precision Drilling during the first quarter valued at $45,000. Goldman Sachs Group Inc. lifted its position in shares of Precision Drilling by 28.4% in the first 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 in the last quarter. Geode Capital Management LLC boosted its stake in Precision Drilling by 20.3% during the second quarter. Geode Capital Management LLC now owns 65,512 shares of the oil and gas company’s stock worth $3,095,000 after buying an additional 11,056 shares during the last quarter. Creative Planning purchased a new position in Precision Drilling in the second quarter worth approximately $378,000. Finally, Aegis Financial Corp increased its position in shares of Precision Drilling by 10.2% during the second quarter. Aegis Financial Corp now owns 215,396 shares of the oil and gas company’s stock valued at $10,182,000 after acquiring an additional 19,891 shares during the last quarter. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Trading Up 0.3%

NYSE:PDS opened at $91.57 on Wednesday. Precision Drilling Corporation has a 1 year low of $36.20 and a 1 year high of $93.89. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -234.80 and a beta of 1.01. The business has a fifty day moving average of $81.39 and a 200-day moving average of $67.65. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.62.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PDS. Royal Bank Of Canada reiterated an “outperform” rating and issued a $124.00 price objective (up from $119.00) on shares of Precision Drilling in a research note on Friday, February 13th. Wall Street Zen lowered Precision Drilling from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Precision Drilling in a research report on Wednesday, January 28th. Piper Sandler restated an “overweight” rating and set a $105.00 target price (up from $81.00) on shares of Precision Drilling in a research report on Tuesday, February 17th. Finally, TD Securities restated a “hold” rating on shares of Precision Drilling in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.00.

Precision Drilling Company 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.