Squarepoint Ops LLC Acquires New Position in Precision Drilling Co. (NYSE:PDS)

Squarepoint Ops LLC bought a new position in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,979 shares of the oil and gas company’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Precision Drilling by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 86,114 shares of the oil and gas company’s stock valued at $4,700,000 after buying an additional 17,214 shares during the period. Hartree Partners LP lifted its stake in shares of Precision Drilling by 113.3% in the 1st quarter. Hartree Partners LP now owns 80,000 shares of the oil and gas company’s stock valued at $5,384,000 after purchasing an additional 42,500 shares during the last quarter. Swiss National Bank grew its holdings in shares of Precision Drilling by 6.3% during the 1st quarter. Swiss National Bank now owns 28,600 shares of the oil and gas company’s stock worth $1,923,000 after purchasing an additional 1,700 shares during the period. Aegis Financial Corp acquired a new stake in shares of Precision Drilling during the 1st quarter worth about $6,124,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in Precision Drilling by 27.3% in the 1st 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 buying an additional 6,328 shares during the period. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Precision Drilling Price Performance

PDS opened at $63.27 on Friday. The firm has a market cap of $904.89 million, a price-to-earnings ratio of 5.56 and a beta of 1.96. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average price is $66.79 and its 200 day moving average price is $69.29. Precision Drilling Co. has a 12-month low of $49.67 and a 12-month high of $79.07.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data 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. Precision Drilling had a net margin of 11.68% and a return on equity of 9.26%. The business had revenue of $429.20 million during the quarter, compared to analyst estimates of $310.13 million. During the same quarter last year, the firm posted $1.21 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts expect that Precision Drilling Co. will post 6.67 earnings per share for the current year.

Analyst Ratings Changes

PDS has been the subject of several research analyst reports. Piper Sandler increased their target price on shares of Precision Drilling from $95.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. StockNews.com raised shares of Precision Drilling from a “hold” rating to a “buy” rating in a research 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.