Sanctuary Advisors LLC Makes New Investment in Precision Drilling Co. (NYSE:PDS)

Sanctuary Advisors LLC bought a new position in Precision Drilling Co. (NYSE:PDS) (TSE:PD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,475 shares of the oil and gas company’s stock, valued at approximately $468,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PDS. Wellington Management Group LLP grew its position in Precision Drilling by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 86,114 shares of the oil and gas company’s stock worth $4,700,000 after purchasing an additional 17,214 shares during the last quarter. Hartree Partners LP boosted its holdings in shares of Precision Drilling by 113.3% in the first quarter. Hartree Partners LP now owns 80,000 shares of the oil and gas company’s stock valued at $5,384,000 after acquiring an additional 42,500 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Precision Drilling by 6.3% in the first quarter. Swiss National Bank now owns 28,600 shares of the oil and gas company’s stock valued at $1,923,000 after acquiring an additional 1,700 shares in the last quarter. Aegis Financial Corp bought a new position in shares of Precision Drilling in the first quarter valued at approximately $6,124,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Precision Drilling by 27.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 29,549 shares of the oil and gas company’s stock valued at $1,989,000 after acquiring an additional 6,328 shares in the last quarter. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Stock Up 1.0 %

Shares of NYSE:PDS opened at $60.55 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.39 and a current ratio of 1.51. The company has a market cap of $865.99 million, a PE ratio of 5.32 and a beta of 1.96. Precision Drilling Co. has a 52 week low of $49.67 and a 52 week high of $79.07. The firm has a 50 day simple moving average of $66.43 and a 200 day simple moving average of $69.16.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $1.44 EPS for the quarter, beating the consensus estimate of ($0.62) by $2.06. The business had revenue of $429.20 million during the quarter, compared to the consensus estimate of $310.13 million. Precision Drilling had a net margin of 11.68% and a return on equity of 9.26%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. As a group, research analysts expect that Precision Drilling Co. will post 6.67 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on PDS. Piper Sandler increased their price objective on shares of Precision Drilling from $95.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. StockNews.com upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

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.