UBS Asset Management Americas Inc. lifted its stake in Precision Drilling Corp (NYSE:PDS) (TSE:PD) by 13.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,150 shares of the oil and gas company’s stock after acquiring an additional 22,000 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Precision Drilling were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in shares of Precision Drilling in the first quarter worth $36,000. Investment House LLC acquired a new position in shares of Precision Drilling in the second quarter worth $39,000. BlackRock Inc. increased its stake in shares of Precision Drilling by 53,250.8% in the second quarter. BlackRock Inc. now owns 31,477 shares of the oil and gas company’s stock worth $59,000 after acquiring an additional 31,418 shares during the last quarter. ARP Americas LP acquired a new position in shares of Precision Drilling in the second quarter worth $71,000. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Precision Drilling by 363.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 50,228 shares of the oil and gas company’s stock worth $94,000 after acquiring an additional 39,385 shares during the last quarter. 37.47% of the stock is currently owned by institutional investors and hedge funds.
NYSE:PDS traded up $0.01 during trading hours on Friday, reaching $1.06. The company’s stock had a trading volume of 608,988 shares, compared to its average volume of 899,797. The company has a market cap of $308.47 million, a price-to-earnings ratio of -4.08 and a beta of 2.30. Precision Drilling Corp has a one year low of $1.00 and a one year high of $3.01. The business’s 50-day moving average is $1.23 and its 200-day moving average is $1.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.83 and a quick ratio of 1.70.
A number of brokerages recently issued reports on PDS. Zacks Investment Research cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Saturday, October 12th. Canaccord Genuity reiterated a “buy” rating on shares of Precision Drilling in a report on Friday, August 16th. Citigroup cut shares of Precision Drilling from a “buy” rating to a “neutral” rating in a report on Monday, September 30th. ValuEngine upgraded shares of Precision Drilling from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Morgan Stanley decreased their price objective on shares of Precision Drilling from $2.50 to $2.00 and set an “overweight” rating for the company in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Precision Drilling presently has an average rating of “Buy” and an average price target of $2.31.
About Precision Drilling
Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
Want to see what other hedge funds are holding PDS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Precision Drilling Corp (NYSE:PDS) (TSE:PD).
Receive News & Ratings for Precision Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling and related companies with MarketBeat.com's FREE daily email newsletter.