Mraz Amerine & Associates Inc. Lowers Position in Precision Drilling Co. (NYSE:PDS)

Mraz Amerine & Associates Inc. trimmed its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,140 shares of the oil and gas company’s stock after selling 271 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Precision Drilling were worth $279,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Acadian Asset Management LLC grew its stake in Precision Drilling by 95.0% during the third quarter. Acadian Asset Management LLC now owns 466,048 shares of the oil and gas company’s stock worth $31,344,000 after buying an additional 227,077 shares during the period. Bank of America Corp DE grew its stake in Precision Drilling by 160.3% during the first quarter. Bank of America Corp DE now owns 235,475 shares of the oil and gas company’s stock worth $12,108,000 after buying an additional 145,027 shares during the period. Quadrature Capital Ltd grew its stake in Precision Drilling by 63.1% during the second quarter. Quadrature Capital Ltd now owns 224,600 shares of the oil and gas company’s stock worth $10,947,000 after buying an additional 86,900 shares during the period. American Century Companies Inc. grew its stake in Precision Drilling by 1,501.2% during the third quarter. American Century Companies Inc. now owns 223,116 shares of the oil and gas company’s stock worth $14,950,000 after buying an additional 209,182 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Precision Drilling by 144.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 215,797 shares of the oil and gas company’s stock worth $16,527,000 after buying an additional 127,691 shares during the period. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price objective on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $115.17.

Precision Drilling Stock Down 0.0 %

Shares of NYSE PDS traded down $0.03 during trading on Wednesday, reaching $68.23. 52,573 shares of the stock were exchanged, compared to its average volume of 84,056. The business’s 50-day moving average price is $65.34 and its 200 day moving average price is $60.21. Precision Drilling Co. has a twelve month low of $41.56 and a twelve month high of $77.21. The company has a quick ratio of 1.30, a current ratio of 1.40 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $987.97 million, a price-to-earnings ratio of 5.01 and a beta of 2.11.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Tuesday, February 6th. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $1.36. Precision Drilling had a net margin of 14.87% and a return on equity of 14.81%. The business had revenue of $372.34 million for the quarter, compared to analysts’ expectations of $355.78 million. As a group, equities analysts forecast that Precision Drilling Co. will post 6.82 EPS for the current fiscal year.

Precision Drilling 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.