Public Employees Retirement System of Ohio Sells 7,958 Shares of Precision Drilling Corporation $PDS

Public Employees Retirement System of Ohio lessened its holdings in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 51.6% during the first quarter, HoldingsChannel reports. The fund owned 7,454 shares of the oil and gas company’s stock after selling 7,958 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Precision Drilling were worth $731,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in Precision Drilling during the 1st quarter valued at about $45,000. Quarry LP purchased a new stake in shares of Precision Drilling in the third quarter worth approximately $54,000. Raymond James Financial Inc. purchased a new stake in shares of Precision Drilling in the second quarter worth approximately $57,000. Wolverine Asset Management LLC lifted its holdings in shares of Precision Drilling by 112.9% in the fourth quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 7,000 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Precision Drilling by 52.3% during the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 408 shares during the last quarter. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Stock Down 1.9%

PDS stock opened at $76.05 on Wednesday. The stock’s fifty day simple moving average is $84.11 and its two-hundred day simple moving average is $87.90. The company has a current ratio of 1.46, a quick ratio of 1.29 and a debt-to-equity ratio of 0.39. Precision Drilling Corporation has a 1-year low of $52.53 and a 1-year high of $103.80. The stock has a market cap of $977.22 million, a P/E ratio of -36.39 and a beta of 0.78.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PDS. BMO Capital Markets reiterated an “outperform” rating on shares of Precision Drilling in a report on Thursday, April 30th. Wall Street Zen upgraded Precision Drilling from a “hold” rating to a “buy” rating in a research note on Saturday. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Precision Drilling in a report on Friday, May 1st. TD Securities reiterated a “hold” rating on shares of Precision Drilling in a research note on Friday, May 1st. Finally, Weiss Ratings downgraded shares of Precision Drilling from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Precision Drilling currently has a consensus rating of “Moderate Buy” and an average target price of $122.33.

Precision Drilling Profile

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.