Precision Drilling Co. (NYSE:PDS) is Ninepoint Partners LP’s 5th Largest Position

Ninepoint Partners LP lessened its stake in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 47.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 600,000 shares of the oil and gas company’s stock after selling 550,000 shares during the quarter. Precision Drilling comprises about 5.4% of Ninepoint Partners LP’s holdings, making the stock its 5th biggest holding. Ninepoint Partners LP’s holdings in Precision Drilling were worth $36,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Greatmark Investment Partners Inc. lifted its position in shares of Precision Drilling by 9.0% during the 4th quarter. Greatmark Investment Partners Inc. now owns 91,601 shares of the oil and gas company’s stock worth $5,594,000 after buying an additional 7,540 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Precision Drilling by 18.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,800 shares of the oil and gas company’s stock worth $1,393,000 after buying an additional 3,500 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its position in shares of Precision Drilling by 11.9% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 16,360 shares of the oil and gas company’s stock worth $999,000 after buying an additional 1,740 shares during the last quarter. Versor Investments LP acquired a new position in shares of Precision Drilling in the 4th quarter valued at $257,000. Finally, Mountain Lake Investment Management LLC increased its holdings in shares of Precision Drilling by 107.9% in the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock valued at $3,174,000 after acquiring an additional 26,981 shares during the period. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Precision Drilling Stock Performance

Shares of Precision Drilling stock opened at $44.64 on Friday. The firm’s fifty day simple moving average is $56.33 and its 200-day simple moving average is $60.37. The stock has a market capitalization of $611.97 million, a price-to-earnings ratio of 8.30 and a beta of 2.05. Precision Drilling Co. has a 12 month low of $43.00 and a 12 month high of $79.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Precision Drilling from a “hold” rating to a “buy” rating in a report on Sunday. TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd.

About Precision Drilling

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.