Northwestern Mutual Wealth Management Co. Buys 116,689 Shares of Precision Drilling Corporation $PDS

Northwestern Mutual Wealth Management Co. grew its stake in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 11,668,900.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,690 shares of the oil and gas company’s stock after buying an additional 116,689 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.90% of Precision Drilling worth $8,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wolverine Asset Management LLC raised its position in shares of Precision Drilling by 112.9% during the fourth quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 7,000 shares during the last quarter. Quarry LP purchased a new position in shares of Precision Drilling in the third quarter valued at $54,000. Cubist Systematic Strategies LLC purchased a new position in shares of Precision Drilling in the first quarter valued at $45,000. US Bancorp DE grew its holdings in shares of Precision Drilling by 52.3% in the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 408 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Precision Drilling in the second quarter valued at $57,000. Institutional investors own 48.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PDS. Wall Street Zen lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. TD Securities reissued a “hold” rating on shares of Precision Drilling in a report on Friday, May 1st. Zacks Research raised shares of Precision Drilling from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Loop Capital set a $122.00 target price on shares of Precision Drilling in a report on Monday, March 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $105.00 price objective (up from $81.00) on shares of Precision Drilling in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.33.

Precision Drilling Stock Up 0.6%

NYSE PDS opened at $96.85 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $94.37 and a two-hundred day moving average of $80.85. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -103.03 and a beta of 0.79. Precision Drilling Corporation has a 52 week low of $40.39 and a 52 week high of $103.80.

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.