Signaturefd LLC Acquires 276 Shares of Precision Drilling Co. (NYSE:PDS)

Signaturefd LLC boosted its holdings in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 19.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,660 shares of the oil and gas company’s stock after purchasing an additional 276 shares during the quarter. Signaturefd LLC’s holdings in Precision Drilling were worth $102,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Precision Drilling by 2,800.0% during the second quarter. Blue Trust Inc. now owns 522 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 504 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Precision Drilling during the second quarter valued at approximately $210,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Precision Drilling by 14.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,270 shares of the oil and gas company’s stock valued at $300,000 after acquiring an additional 545 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Precision Drilling during the second quarter valued at approximately $468,000. Finally, Versor Investments LP bought a new stake in shares of Precision Drilling during the second quarter valued at approximately $527,000. 48.86% of the stock is currently owned by institutional investors.

Precision Drilling Stock Down 1.6 %

Shares of NYSE:PDS opened at $57.92 on Tuesday. The stock has a market cap of $828.37 million, a price-to-earnings ratio of 5.09 and a beta of 1.96. The company has a quick ratio of 1.39, a current ratio of 1.51 and a debt-to-equity ratio of 0.52. Precision Drilling Co. has a 12-month low of $49.67 and a 12-month high of $79.07. The business’s 50 day moving average is $64.75 and its 200 day moving average is $68.28.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $2.06. Precision Drilling had a return on equity of 9.26% and a net margin of 11.68%. The company had revenue of $429.20 million for the quarter, compared to analysts’ expectations of $310.13 million. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Precision Drilling’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Precision Drilling Co. will post 6.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler boosted their price objective on Precision Drilling from $95.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. StockNews.com raised Precision Drilling from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

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.