Quadrature Capital Ltd Sells 13,100 Shares of Precision Drilling Co. (NYSE:PDS)

Quadrature Capital Ltd reduced its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 49.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,300 shares of the oil and gas company’s stock after selling 13,100 shares during the quarter. Quadrature Capital Ltd’s holdings in Precision Drilling were worth $892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PDS. Ninepoint Partners LP bought a new stake in shares of Precision Drilling in the fourth quarter valued at about $74,649,000. Russell Investments Group Ltd. bought a new stake in Precision Drilling in the 4th quarter valued at approximately $88,000. Intact Investment Management Inc. boosted its position in Precision Drilling by 4.8% during the 4th quarter. Intact Investment Management Inc. now owns 85,850 shares of the oil and gas company’s stock worth $4,662,000 after acquiring an additional 3,900 shares during the last quarter. Greatmark Investment Partners Inc. grew its stake in shares of Precision Drilling by 25.1% during the 4th quarter. Greatmark Investment Partners Inc. now owns 59,627 shares of the oil and gas company’s stock worth $3,237,000 after acquiring an additional 11,955 shares in the last quarter. Finally, NewGen Asset Management Ltd raised its holdings in shares of Precision Drilling by 27.8% in the fourth quarter. NewGen Asset Management Ltd now owns 123,970 shares of the oil and gas company’s stock valued at $6,730,000 after purchasing an additional 27,000 shares during the last quarter. 48.86% of the stock is owned by institutional investors and hedge funds.

Precision Drilling Stock Performance

NYSE PDS traded up $0.83 on Friday, hitting $73.07. 44,113 shares of the stock were exchanged, compared to its average volume of 38,813. The business’s fifty day moving average is $70.18 and its 200 day moving average is $66.83. Precision Drilling Co. has a 52 week low of $49.67 and a 52 week high of $78.13. The company has a market capitalization of $1.04 billion, a PE ratio of 6.42 and a beta of 2.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.71 and a quick ratio of 1.59.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). The business had revenue of $391.51 million for the quarter, compared to the consensus estimate of $399.44 million. Precision Drilling had a return on equity of 10.10% and a net margin of 12.00%. Research analysts anticipate that Precision Drilling Co. will post 6.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on PDS. StockNews.com cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Piper Sandler reduced their price objective on shares of Precision Drilling from $101.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.50.

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.