National Bank of Canada FI Sells 2,023 Shares of Precision Drilling Co. (NYSE:PDS)

National Bank of Canada FI decreased its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 551,176 shares of the oil and gas company’s stock after selling 2,023 shares during the period. National Bank of Canada FI owned about 3.84% of Precision Drilling worth $28,922,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Signaturefd LLC increased its stake in Precision Drilling by 41.3% in the third quarter. Signaturefd LLC now owns 921 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 269 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Precision Drilling during the 4th quarter valued at about $88,000. Barometer Capital Management Inc. bought a new stake in Precision Drilling in the 3rd quarter worth approximately $148,000. Quantbot Technologies LP bought a new position in Precision Drilling during the third quarter valued at approximately $243,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Precision Drilling by 41.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,725 shares of the oil and gas company’s stock valued at $251,000 after acquiring an additional 1,084 shares during the last quarter. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Precision Drilling Price Performance

PDS stock opened at $72.35 on Tuesday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 6.36 and a beta of 2.08. The firm’s 50-day moving average price is $67.47 and its two-hundred day moving average price is $61.01. The company has a current ratio of 1.71, a quick ratio of 1.59 and a debt-to-equity ratio of 0.57. Precision Drilling Co. has a 12-month low of $41.56 and a 12-month high of $77.21.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. The business had revenue of $391.51 million for the quarter, compared to analysts’ expectations of $399.44 million. As a group, equities analysts predict that Precision Drilling Co. will post 6.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PDS. StockNews.com cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Piper Sandler upped their price target on shares of Precision Drilling from $81.00 to $101.00 and gave the company an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Precision Drilling has an average rating of “Moderate Buy” and an average target price of $118.50.

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.