Marshall Wace North America L.P. Invests $352,000 in Precision Drilling Co. (NYSE:PDS)

Marshall Wace North America L.P. purchased a new position in Precision Drilling Co. (NYSE:PDS) (TSE:PD) during the second quarter, HoldingsChannel.com reports. The fund purchased 8,458 shares of the oil and gas company’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Mountain Lake Investment Management LLC boosted its position in shares of Precision Drilling by 0.9% in the 2nd quarter. Mountain Lake Investment Management LLC now owns 312,750 shares of the oil and gas company’s stock worth $13,042,000 after purchasing an additional 2,750 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Precision Drilling by 23.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 245,830 shares of the oil and gas company’s stock worth $10,243,000 after purchasing an additional 47,000 shares in the last quarter. EAM Global Investors LLC bought a new stake in shares of Precision Drilling in the 2nd quarter worth approximately $9,274,000. FMR LLC bought a new stake in shares of Precision Drilling in the 2nd quarter worth approximately $8,410,000. Finally, Bank of America Corp DE boosted its position in shares of Precision Drilling by 44.1% in the 2nd quarter. Bank of America Corp DE now owns 153,016 shares of the oil and gas company’s stock worth $6,380,000 after purchasing an additional 46,835 shares in the last quarter. 39.99% of the stock is currently owned by hedge funds and other institutional investors.

NYSE PDS opened at $35.36 on Thursday. The company’s fifty day moving average price is $39.33. The company has a market cap of $470.43 million, a PE ratio of -3.17 and a beta of 2.96. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.57 and a quick ratio of 1.45. Precision Drilling Co. has a 1-year low of $15.60 and a 1-year high of $50.42.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings results on Wednesday, October 20th. The oil and gas company reported ($2.88) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($1.56). The firm had revenue of $253.80 million for the quarter, compared to the consensus estimate of $277.66 million. Precision Drilling had a negative net margin of 21.12% and a negative return on equity of 14.34%. Precision Drilling’s quarterly revenue was up 54.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.60) earnings per share. As a group, analysts expect that Precision Drilling Co. will post -9.65 EPS for the current fiscal year.

Several equities analysts recently issued reports on PDS shares. Raymond James cut Precision Drilling from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 21st. Royal Bank of Canada reaffirmed a “buy” rating and issued a C$66.00 price objective on shares of Precision Drilling in a research report on Friday, October 8th. TD Securities lowered their price objective on Precision Drilling from C$60.00 to C$57.00 and set a “hold” rating on the stock in a research report on Friday, October 22nd. Tudor Pickering reaffirmed a “buy” rating on shares of Precision Drilling in a research report on Friday, September 24th. Finally, Evercore ISI raised Precision Drilling to a “buy” rating and set a $70.00 price objective on the stock in a research report on Friday, October 15th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $53.73.

Precision Drilling Company Profile

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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