US Bancorp DE Buys 218 Shares of Precision Drilling Co. (NYSE:PDS)

US Bancorp DE raised its stake in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 56.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 603 shares of the oil and gas company’s stock after purchasing an additional 218 shares during the period. US Bancorp DE’s holdings in Precision Drilling were worth $37,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new stake in Precision Drilling in the 2nd quarter worth about $210,000. Point72 Asset Management L.P. raised its holdings in shares of Precision Drilling by 31.1% in the second quarter. Point72 Asset Management L.P. now owns 57,949 shares of the oil and gas company’s stock worth $4,073,000 after buying an additional 13,749 shares during the period. 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 acquiring an additional 12,000 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Precision Drilling by 19.9% during the 3rd quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 276 shares during the last quarter. Finally, Versor Investments LP purchased a new position in Precision Drilling during the 2nd quarter valued at $527,000. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Stock Up 1.2 %

Shares of NYSE:PDS opened at $63.03 on Tuesday. The business’s 50 day moving average is $62.40 and its 200 day moving average is $67.56. The stock has a market cap of $886.52 million, a P/E ratio of 5.33 and a beta of 1.97. Precision Drilling Co. has a 52-week low of $49.67 and a 52-week high of $79.07. The company has a quick ratio of 1.41, a current ratio of 1.54 and a debt-to-equity ratio of 0.47.

Analyst Upgrades and Downgrades

PDS has been the subject of several research analyst reports. Piper Sandler lifted their target price on Precision Drilling from $95.00 to $112.00 and gave the stock an “overweight” rating in a research 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 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.