Precision Drilling Co. (NYSE:PDS) Stock Holdings Increased by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,908 shares of the oil and gas company’s stock after buying an additional 2,200 shares during the period. Wellington Management Group LLP owned about 0.99% of Precision Drilling worth $8,308,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PDS. Arrowstreet Capital Limited Partnership boosted its stake in shares of Precision Drilling by 3,575.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company’s stock worth $9,395,000 after acquiring an additional 149,616 shares in the last quarter. Greatmark Investment Partners Inc. raised its holdings in shares of Precision Drilling by 9.0% during the fourth quarter. Greatmark Investment Partners Inc. now owns 91,601 shares of the oil and gas company’s stock valued at $5,594,000 after acquiring an additional 7,540 shares during the period. Franklin Resources Inc. lifted its position in shares of Precision Drilling by 21.9% in the 3rd quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock valued at $3,961,000 after acquiring an additional 11,331 shares in the last quarter. Mountain Lake Investment Management LLC grew its position in Precision Drilling by 107.9% during the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock worth $3,174,000 after purchasing an additional 26,981 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Precision Drilling by 91.7% during the 4th quarter. JPMorgan Chase & Co. now owns 28,691 shares of the oil and gas company’s stock valued at $1,752,000 after purchasing an additional 13,722 shares during the period. Institutional investors and hedge funds own 48.86% of the company’s stock.

Analysts Set New Price Targets

PDS has been the subject of several recent analyst reports. TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Raymond James cut Precision Drilling from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday. Finally, StockNews.com lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Monday, March 24th.

Precision Drilling Stock Performance

Shares of PDS stock opened at $40.81 on Friday. Precision Drilling Co. has a fifty-two week low of $36.20 and a fifty-two week high of $79.07. The stock’s 50-day moving average is $48.34 and its two-hundred day moving average is $57.11. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. The firm has a market cap of $552.88 million, a P/E ratio of 7.59 and a beta of 1.53.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.64). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. Analysts predict that Precision Drilling Co. will post 7.1 earnings per share 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.