American Century Companies Inc. Has $7.03 Million Stock Position in Precision Drilling Co. (NYSE:PDS)

American Century Companies Inc. increased its holdings in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 8.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 99,979 shares of the oil and gas company’s stock after purchasing an additional 7,436 shares during the period. American Century Companies Inc. owned 0.70% of Precision Drilling worth $7,030,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. National Bank of Canada FI boosted its stake in shares of Precision Drilling by 0.7% during the 2nd quarter. National Bank of Canada FI now owns 715,966 shares of the oil and gas company’s stock worth $49,928,000 after acquiring an additional 4,919 shares during the period. Versor Investments LP bought a new position in Precision Drilling during the second quarter worth $527,000. CIBC Asset Management Inc increased its holdings in shares of Precision Drilling by 22.6% in the second quarter. CIBC Asset Management Inc now owns 17,783 shares of the oil and gas company’s stock valued at $1,250,000 after purchasing an additional 3,283 shares during the last quarter. Ritholtz Wealth Management raised its position in shares of Precision Drilling by 151.7% in the second quarter. Ritholtz Wealth Management now owns 10,661 shares of the oil and gas company’s stock valued at $750,000 after purchasing an additional 6,425 shares during the period. Finally, Nicola Wealth Management LTD. lifted its stake in shares of Precision Drilling by 75.0% during the 2nd quarter. Nicola Wealth Management LTD. now owns 28,000 shares of the oil and gas company’s stock worth $1,970,000 after buying an additional 12,000 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PDS shares. Piper Sandler upped their price target on shares of Precision Drilling from $95.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. StockNews.com upgraded Precision Drilling from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Precision Drilling Trading Down 2.1 %

PDS stock opened at $65.12 on Tuesday. Precision Drilling Co. has a 52 week low of $49.67 and a 52 week high of $79.07. The company has a market capitalization of $931.35 million, a PE ratio of 5.72 and a beta of 1.97. The company’s 50-day simple moving average is $69.58 and its 200 day simple moving average is $69.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.39 and a current ratio of 1.51.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $1.44 EPS for the quarter, topping the consensus estimate of ($0.62) by $2.06. The company had revenue of $429.20 million for the quarter, compared to analysts’ expectations of $310.13 million. Precision Drilling had a net margin of 11.68% and a return on equity of 9.26%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. As a group, sell-side analysts anticipate that Precision Drilling Co. will post 7.01 earnings per share 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.