UBS Asset Management Americas Inc. Has $349,000 Stock Holdings in Precision Drilling Corp (NYSE:PDS)

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.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.04. The firm had revenue of $359.00 million during the quarter, compared to analysts’ expectations of $346.66 million. Precision Drilling had a negative net margin of 13.63% and a negative return on equity of 2.67%. Precision Drilling’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share. On average, sell-side analysts predict that Precision Drilling Corp will post -0.13 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for Precision Drilling (NYSE:PDS)

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