MQS Management LLC Has $240,000 Stock Position in Precision Drilling Corporation $PDS

MQS Management LLC lowered its holdings in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 43.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,079 shares of the oil and gas company’s stock after selling 3,928 shares during the period. MQS Management LLC’s holdings in Precision Drilling were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDS. Nuveen LLC acquired a new stake in Precision Drilling in the 1st quarter valued at approximately $22,637,000. Acadian Asset Management LLC acquired a new stake in Precision Drilling in the 1st quarter valued at approximately $6,813,000. Polar Asset Management Partners Inc. grew its holdings in Precision Drilling by 200.0% in the 1st quarter. Polar Asset Management Partners Inc. now owns 108,000 shares of the oil and gas company’s stock valued at $5,026,000 after buying an additional 72,000 shares during the last quarter. Aegis Financial Corp grew its holdings in Precision Drilling by 58.1% in the 1st quarter. Aegis Financial Corp now owns 195,505 shares of the oil and gas company’s stock valued at $9,089,000 after buying an additional 71,867 shares during the last quarter. Finally, Quotient Wealth Partners LLC acquired a new stake in Precision Drilling in the 1st quarter valued at approximately $3,192,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Price Performance

Precision Drilling stock opened at $60.23 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.58 and a quick ratio of 1.42. The company has a market capitalization of $793.40 million, a PE ratio of 22.39 and a beta of 1.11. Precision Drilling Corporation has a one year low of $36.20 and a one year high of $67.35. The business has a 50 day simple moving average of $56.81 and a 200 day simple moving average of $50.86.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Wednesday, October 22nd. The oil and gas company reported ($0.37) EPS for the quarter, missing the consensus estimate of $1.20 by ($1.57). The company had revenue of $331.90 million for the quarter, compared to the consensus estimate of $471.38 million. Precision Drilling had a return on equity of 3.44% and a net margin of 3.17%. On average, sell-side analysts forecast that Precision Drilling Corporation will post 7.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen lowered Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday. TD Securities reissued a “hold” rating on shares of Precision Drilling in a report on Thursday. Royal Bank Of Canada lifted their price objective on Precision Drilling from $110.00 to $117.00 and gave the stock an “outperform” rating in a report on Friday. Zacks Research lowered Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Precision Drilling in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.50.

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.