Aigen Investment Management LP Reduces Holdings in Precision Drilling Co. (NYSE:PDS)

Aigen Investment Management LP lowered its stake in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 36.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,768 shares of the oil and gas company’s stock after selling 2,200 shares during the period. Aigen Investment Management LP’s holdings in Precision Drilling were worth $230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PDS. US Bancorp DE lifted its position in Precision Drilling by 56.6% during the third quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock worth $37,000 after buying an additional 218 shares during the period. Blue Trust Inc. grew its position in Precision Drilling by 64.7% during the fourth quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company’s stock valued at $203,000 after acquiring an additional 1,295 shares during the period. Barclays PLC raised its holdings in shares of Precision Drilling by 1,579.0% in the 3rd quarter. Barclays PLC now owns 3,358 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 3,158 shares during the period. Northwest & Ethical Investments L.P. lifted its stake in shares of Precision Drilling by 22.0% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 606 shares in the last quarter. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Precision Drilling during the 3rd quarter worth about $237,000. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Precision Drilling Price Performance

PDS stock opened at $46.43 on Monday. The stock has a 50-day simple moving average of $58.09 and a 200-day simple moving average of $61.27. The firm has a market cap of $636.46 million, a P/E ratio of 8.63 and a beta of 2.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48. Precision Drilling Co. has a 1 year low of $43.63 and a 1 year high of $79.07.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PDS shares. StockNews.com cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Saturday. TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd.

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.