Northwestern Mutual Wealth Management Co. Purchases 116,689 Shares of Precision Drilling Corporation $PDS

Northwestern Mutual Wealth Management Co. increased its position in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 11,668,900.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 116,690 shares of the oil and gas company’s stock after buying an additional 116,689 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.90% of Precision Drilling worth $8,388,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wolverine Asset Management LLC grew its holdings in shares of Precision Drilling by 112.9% in the 4th quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock valued at $58,000 after acquiring an additional 7,000 shares in the last quarter. Quarry LP acquired a new stake in shares of Precision Drilling in the third quarter valued at about $54,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Precision Drilling in the first quarter valued at about $45,000. US Bancorp DE grew its stake in Precision Drilling by 52.3% in the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 408 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Precision Drilling in the second quarter valued at approximately $57,000. 48.86% of the stock is currently owned by institutional investors.

Precision Drilling Stock Performance

Shares of NYSE PDS opened at $93.17 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.41. Precision Drilling Corporation has a 12 month low of $43.81 and a 12 month high of $103.80. The stock has a 50 day moving average of $94.05 and a 200-day moving average of $82.40. The company has a market capitalization of $1.21 billion, a P/E ratio of -99.12 and a beta of 0.76.

Wall Street Analyst Weigh In

PDS has been the subject of a number of analyst reports. TD Securities restated a “hold” rating on shares of Precision Drilling in a research note on Friday, May 1st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Precision Drilling in a research note on Friday, May 1st. BMO Capital Markets restated an “outperform” rating on shares of Precision Drilling in a research note on Thursday, April 30th. Weiss Ratings downgraded Precision Drilling from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Finally, Loop Capital set a $122.00 price target on Precision Drilling in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.33.

About Precision Drilling

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.