Nikko Asset Management Americas Inc. Purchases 824 Shares of Precision Drilling Co. (NYSE:PDS)

Nikko Asset Management Americas Inc. lifted its position in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,477 shares of the oil and gas company’s stock after buying an additional 824 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Precision Drilling were worth $518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Precision Drilling by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock worth $425,000 after acquiring an additional 424 shares during the period. Mountain Lake Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 26,981 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Precision Drilling by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock worth $3,961,000 after acquiring an additional 11,331 shares during the period. National Bank of Canada FI lifted its holdings in shares of Precision Drilling by 1.4% during the 3rd quarter. National Bank of Canada FI now owns 726,284 shares of the oil and gas company’s stock worth $44,740,000 after acquiring an additional 10,318 shares during the period. Finally, Polar Asset Management Partners Inc. lifted its holdings in shares of Precision Drilling by 111.1% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company’s stock worth $4,226,000 after acquiring an additional 36,100 shares during the period. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Price Performance

PDS stock opened at $45.12 on Tuesday. The company has a 50 day simple moving average of $55.97 and a 200 day simple moving average of $60.08. The stock has a market cap of $618.49 million, a price-to-earnings ratio of 8.39 and a beta of 2.05. Precision Drilling Co. has a 1 year low of $43.00 and a 1 year high of $79.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. Research analysts anticipate that Precision Drilling Co. will post 7.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating in a research report on Sunday.

Precision Drilling Company 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.