Precision Drilling Co. (NYSE:PDS) Stock Holdings Increased by Toronto Dominion Bank

Toronto Dominion Bank grew its stake in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 11.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,074 shares of the oil and gas company’s stock after purchasing an additional 1,071 shares during the quarter. Toronto Dominion Bank owned approximately 0.08% of Precision Drilling worth $408,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PDS. Apis Capital Advisors LLC bought a new position in Precision Drilling in the 2nd quarter worth approximately $1,860,000. FMR LLC bought a new position in Precision Drilling in the 2nd quarter worth approximately $8,410,000. Cubist Systematic Strategies LLC bought a new position in Precision Drilling in the 2nd quarter worth approximately $931,000. SG Capital Management LLC grew its holdings in Precision Drilling by 109.5% in the 3rd quarter. SG Capital Management LLC now owns 49,585 shares of the oil and gas company’s stock worth $2,004,000 after buying an additional 25,920 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Precision Drilling by 1,144.0% in the second quarter. Deutsche Bank AG now owns 3,732 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 3,432 shares during the period. 41.15% of the stock is owned by institutional investors.

PDS opened at $44.86 on Friday. The stock has a fifty day moving average of $36.03 and a 200-day moving average of $36.65. The firm has a market capitalization of $596.82 million, a P/E ratio of -4.02 and a beta of 2.99. Precision Drilling Co. has a 12-month low of $19.22 and a 12-month high of $50.42. The company has a quick ratio of 1.45, a current ratio of 1.57 and a debt-to-equity ratio of 0.93.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Wednesday, October 20th. The oil and gas company reported ($2.88) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.32) by ($1.56). Precision Drilling had a negative net margin of 21.12% and a negative return on equity of 14.34%. The business had revenue of $253.80 million during the quarter, compared to analysts’ expectations of $277.66 million. During the same quarter in the previous year, the company earned ($1.60) EPS. Precision Drilling’s revenue for the quarter was up 54.0% on a year-over-year basis. On average, analysts expect that Precision Drilling Co. will post -9.76 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on the company. Piper Sandler upgraded Precision Drilling from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $57.00 in a research report on Tuesday, December 21st. Evercore ISI upgraded Precision Drilling to a “buy” rating and set a $70.00 price objective for the company in a research report on Friday, October 15th. Zacks Investment Research upgraded Precision Drilling from a “sell” rating to a “hold” rating in a research report on Wednesday. CIBC increased their price objective on Precision Drilling from C$60.00 to C$65.00 and gave the company a “neutral” rating in a research report on Friday, October 15th. Finally, Tudor Pickering reiterated a “buy” rating on shares of Precision Drilling in a research report on Friday, September 24th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $55.91.

About Precision Drilling

Precision Drilling Corp. engages in the provision od onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the following segments: Contract Drilling Services; and Completion and Production Services. The Contract Drilling Services segment includes drilling rigs, directional drilling, procurement and distribution of oilfield supplies, and the manufacture, sale, and repair of drilling equipment.

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

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