Precision Drilling Corporation $PDS Shares Sold by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC trimmed its holdings in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 18.0% during the fourth quarter, Holdings Channel reports. The firm owned 79,161 shares of the oil and gas company’s stock after selling 17,396 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Precision Drilling were worth $5,690,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of PDS. Cubist Systematic Strategies LLC acquired a new stake in shares of Precision Drilling during the first quarter worth $45,000. Quarry LP acquired a new stake in shares of Precision Drilling in the 3rd quarter worth about $54,000. Raymond James Financial Inc. acquired a new stake in shares of Precision Drilling in the 2nd quarter worth about $57,000. US Bancorp DE increased its holdings in shares of Precision Drilling by 52.3% in the 3rd quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 408 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Precision Drilling in the 3rd quarter worth about $146,000. 48.86% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Stock Down 0.9%

Shares of PDS stock opened at $92.45 on Friday. The business’s fifty day moving average is $91.02 and its 200-day moving average is $73.46. The stock has a market cap of $1.20 billion, a PE ratio of -237.03 and a beta of 0.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.62. Precision Drilling Corporation has a 1 year low of $39.67 and a 1 year high of $103.80.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.26. The company had revenue of $349.37 million for the quarter, compared to analysts’ expectations of $489.80 million. Precision Drilling had a net margin of 0.05% and a return on equity of 4.12%. Equities analysts expect that Precision Drilling Corporation will post 7.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PDS. Loop Capital set a $122.00 target price on Precision Drilling in a research report on Monday, March 2nd. Piper Sandler reissued an “overweight” rating and set a $105.00 target price (up from $81.00) on shares of Precision Drilling in a research note on Tuesday, February 17th. Zacks Research raised shares of Precision Drilling from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. BMO Capital Markets reissued an “outperform” rating on shares of Precision Drilling in a research note on Thursday, February 12th. Finally, Weiss Ratings cut shares of Precision Drilling from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.33.

Precision Drilling Company Profile

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.