Credit Capital Investments LLC lifted its stake in shares of Precision Drilling Corp (NYSE:PDS) (TSE:PD) by 1,993.2% during the fourth quarter, HoldingsChannel reports. The firm owned 209,322 shares of the oil and gas company’s stock after buying an additional 199,322 shares during the period. Precision Drilling accounts for approximately 0.7% of Credit Capital Investments LLC’s holdings, making the stock its 28th largest position. Credit Capital Investments LLC’s holdings in Precision Drilling were worth $632,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of Precision Drilling by 178.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,572 shares of the oil and gas company’s stock worth $120,000 after buying an additional 20,234 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Precision Drilling during the third quarter worth approximately $406,000. Virtu Financial LLC raised its stake in shares of Precision Drilling by 106.7% during the fourth quarter. Virtu Financial LLC now owns 193,439 shares of the oil and gas company’s stock worth $584,000 after buying an additional 99,839 shares during the last quarter. Royce & Associates LP raised its stake in shares of Precision Drilling by 29.0% during the third quarter. Royce & Associates LP now owns 202,500 shares of the oil and gas company’s stock worth $632,000 after buying an additional 45,500 shares during the last quarter. Finally, Quantitative Investment Management LLC raised its stake in shares of Precision Drilling by 36.6% during the fourth quarter. Quantitative Investment Management LLC now owns 219,500 shares of the oil and gas company’s stock worth $662,000 after buying an additional 58,800 shares during the last quarter. Institutional investors own 44.74% of the company’s stock.
Shares of Precision Drilling Corp (NYSE PDS) opened at $2.87 on Friday. Precision Drilling Corp has a 12 month low of $2.26 and a 12 month high of $5.09. The company has a quick ratio of 1.99, a current ratio of 2.11 and a debt-to-equity ratio of 0.96. The company has a market cap of $839.84, a P/E ratio of -8.20 and a beta of 1.90.
PDS has been the subject of a number of recent research reports. ValuEngine downgraded shares of Precision Drilling from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Precision Drilling from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research note on Thursday, January 4th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $3.40 price target (up from $3.00) on shares of Precision Drilling in a research note on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Precision Drilling currently has an average rating of “Hold” and an average target price of $4.36.
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Precision Drilling Company Profile
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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