291,836 Shares in Precision Drilling Corporation $PDS Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. acquired a new position in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 291,836 shares of the oil and gas company’s stock, valued at approximately $20,979,000. Hillsdale Investment Management Inc. owned 2.26% of Precision Drilling at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aegis Financial Corp raised its position in Precision Drilling by 110.0% in the 3rd quarter. Aegis Financial Corp now owns 452,359 shares of the oil and gas company’s stock worth $25,486,000 after purchasing an additional 236,963 shares during the period. JPMorgan Chase & Co. raised its position in Precision Drilling by 180.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 37,579 shares of the oil and gas company’s stock worth $2,118,000 after purchasing an additional 24,203 shares during the period. Picton Mahoney Asset Management raised its position in Precision Drilling by 100.0% in the 3rd quarter. Picton Mahoney Asset Management now owns 245,981 shares of the oil and gas company’s stock worth $13,851,000 after purchasing an additional 122,974 shares during the period. Beirne Wealth Consulting Services LLC purchased a new stake in Precision Drilling in the 3rd quarter worth about $325,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Precision Drilling in the 3rd quarter worth about $583,000. 48.86% of the stock is owned by hedge funds and other institutional investors.

Precision Drilling Price Performance

Shares of PDS opened at $89.35 on Friday. The company has a 50 day moving average price of $94.17 and a 200-day moving average price of $82.01. Precision Drilling Corporation has a fifty-two week low of $42.31 and a fifty-two week high of $103.80. The stock has a market capitalization of $1.16 billion, a PE ratio of -95.05 and a beta of 0.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.52 and a current ratio of 1.70.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PDS shares. Loop Capital set a $122.00 target price on shares of Precision Drilling in a research note on Monday, March 2nd. BMO Capital Markets restated an “outperform” rating on shares of Precision Drilling in a research note on Thursday, April 30th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Precision Drilling in a research note on Friday, May 1st. TD Securities restated a “hold” rating on shares of Precision Drilling in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Precision Drilling from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Precision Drilling has a consensus rating of “Moderate Buy” and a consensus target price of $122.33.

Precision Drilling Company Profile

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.