PDT Partners LLC Boosts Stock Position in Precision Drilling Co. (NYSE:PDS)

PDT Partners LLC increased its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 182.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,264 shares of the oil and gas company’s stock after buying an additional 5,342 shares during the quarter. PDT Partners LLC’s holdings in Precision Drilling were worth $509,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Precision Drilling by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 201,625 shares of the oil and gas company’s stock worth $14,182,000 after purchasing an additional 28,947 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Precision Drilling by 31.1% in the second quarter. Point72 Asset Management L.P. now owns 57,949 shares of the oil and gas company’s stock valued at $4,073,000 after acquiring an additional 13,749 shares during the period. Nicola Wealth Management LTD. grew its stake in Precision Drilling by 75.0% during the second quarter. Nicola Wealth Management LTD. now owns 28,000 shares of the oil and gas company’s stock valued at $1,970,000 after acquiring an additional 12,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in Precision Drilling during the third quarter valued at approximately $472,000. Finally, Versor Investments LP bought a new stake in Precision Drilling during the 2nd quarter worth approximately $527,000. 48.86% of the stock is currently owned by institutional investors.

Precision Drilling Price Performance

Precision Drilling stock opened at $62.41 on Tuesday. The business has a 50-day simple moving average of $62.26 and a 200 day simple moving average of $67.04. Precision Drilling Co. has a 52 week low of $49.67 and a 52 week high of $79.07. The stock has a market cap of $878.11 million, a price-to-earnings ratio of 5.34 and a beta of 1.97. The company has a quick ratio of 1.41, a current ratio of 1.54 and a debt-to-equity ratio of 0.47.

Analyst Ratings Changes

Separately, Piper Sandler raised their price target on shares of Precision Drilling from $95.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd.

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.