Precision Drilling Corporation $PDS Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its stake in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 12.1% in the second quarter, Holdings Channel reports. The fund owned 492,428 shares of the oil and gas company’s stock after selling 68,064 shares during the quarter. Bank of Montreal Can’s holdings in Precision Drilling were worth $23,335,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Precision Drilling during the first quarter worth $45,000. Signaturefd LLC increased its stake in Precision Drilling by 52.4% during the 2nd quarter. Signaturefd LLC now owns 2,230 shares of the oil and gas company’s stock worth $105,000 after buying an additional 767 shares during the period. Aristides Capital LLC acquired a new position in Precision Drilling in the 1st quarter worth $252,000. Vident Advisory LLC boosted its position in Precision Drilling by 8.2% in the 1st quarter. Vident Advisory LLC now owns 6,766 shares of the oil and gas company’s stock valued at $315,000 after buying an additional 512 shares during the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in shares of Precision Drilling during the first quarter valued at about $344,000. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Precision Drilling Price Performance

Shares of PDS opened at $57.89 on Friday. Precision Drilling Corporation has a 52 week low of $36.20 and a 52 week high of $67.35. The company has a current ratio of 1.58, a quick ratio of 1.42 and a debt-to-equity ratio of 0.41. The firm has a market cap of $762.60 million, a price-to-earnings ratio of 21.52 and a beta of 1.15. The stock has a 50 day moving average of $57.30 and a 200-day moving average of $51.82.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings data on Wednesday, October 22nd. The oil and gas company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($1.57). The firm had revenue of $331.90 million for the quarter, compared to the consensus estimate of $471.38 million. Precision Drilling had a return on equity of 3.44% and a net margin of 3.17%. As a group, analysts forecast that Precision Drilling Corporation will post 7.1 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on PDS shares. Zacks Research cut Precision Drilling from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. Piper Sandler lifted their price objective on Precision Drilling from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. TD Securities reiterated a “hold” rating on shares of Precision Drilling in a research note on Thursday, October 23rd. Wall Street Zen downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Finally, Atb Cap Markets raised shares of Precision Drilling to a “strong-buy” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.00.

About Precision Drilling

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.