Quadrant Capital Group LLC Trims Stock Position in Precision Drilling Co. (NYSE:PDS)

Quadrant Capital Group LLC lessened its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 35.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,250 shares of the oil and gas company’s stock after selling 700 shares during the quarter. Quadrant Capital Group LLC’s holdings in Precision Drilling were worth $76,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC boosted its position in Precision Drilling by 73.5% in the 3rd quarter. Jane Street Group LLC now owns 16,440 shares of the oil and gas company’s stock worth $1,014,000 after purchasing an additional 6,967 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Precision Drilling in the 3rd quarter valued at $361,000. Barclays PLC boosted its holdings in Precision Drilling by 1,579.0% during the third quarter. Barclays PLC now owns 3,358 shares of the oil and gas company’s stock worth $207,000 after buying an additional 3,158 shares in the last quarter. Geode Capital Management LLC grew its position in Precision Drilling by 6.6% during the third quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock valued at $425,000 after buying an additional 424 shares during the period. Finally, Sanctuary Advisors LLC increased its holdings in Precision Drilling by 18.8% in the third quarter. Sanctuary Advisors LLC now owns 7,690 shares of the oil and gas company’s stock valued at $510,000 after buying an additional 1,215 shares in the last quarter. 48.86% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Stock Down 7.5 %

PDS stock opened at $40.81 on Friday. Precision Drilling Co. has a 52 week low of $36.20 and a 52 week high of $79.07. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $48.34 and a 200-day simple moving average of $57.11. The stock has a market capitalization of $552.88 million, a P/E ratio of 7.59 and a beta of 1.53.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.64). Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. Equities analysts forecast that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PDS shares. Raymond James lowered shares of Precision Drilling from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday. StockNews.com lowered Precision Drilling from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd.

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.