Scotia Capital Inc. raised its holdings in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 326.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 545,570 shares of the oil and gas company’s stock after acquiring an additional 417,523 shares during the quarter. Scotia Capital Inc. owned about 0.19% of Precision Drilling Corporation worth $1,855,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in Precision Drilling Corporation by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 84,060 shares of the oil and gas company’s stock valued at $396,000 after acquiring an additional 1,938 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Precision Drilling Corporation by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 598,357 shares of the oil and gas company’s stock valued at $2,824,000 after acquiring an additional 2,600 shares during the last quarter. Legal & General Group Plc boosted its stake in Precision Drilling Corporation by 0.8% in the first quarter. Legal & General Group Plc now owns 455,424 shares of the oil and gas company’s stock valued at $2,146,000 after acquiring an additional 3,566 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in Precision Drilling Corporation by 1.0% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 915,680 shares of the oil and gas company’s stock valued at $3,122,000 after acquiring an additional 8,990 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Precision Drilling Corporation by 2.2% in the second quarter. Swiss National Bank now owns 493,700 shares of the oil and gas company’s stock valued at $1,687,000 after acquiring an additional 10,800 shares during the last quarter. 61.43% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities analysts have issued reports on PDS shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $4.50 price objective (down from $6.00) on shares of Precision Drilling Corporation in a research note on Wednesday, August 2nd. TD Securities started coverage on shares of Precision Drilling Corporation in a research note on Monday, September 11th. They issued a “buy” rating on the stock. ValuEngine raised shares of Precision Drilling Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, October 2nd. Zacks Investment Research cut shares of Precision Drilling Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Finally, Deutsche Bank AG started coverage on shares of Precision Drilling Corporation in a research note on Tuesday. They issued a “hold” rating and a $4.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.58.

Shares of Precision Drilling Corporation (NYSE:PDS) traded up 2.165% during midday trading on Friday, hitting $2.595. 376,165 shares of the company were exchanged. The firm’s 50 day moving average price is $2.79 and its 200 day moving average price is $3.39. The firm’s market capitalization is $760.95 million. Precision Drilling Corporation has a one year low of $2.38 and a one year high of $6.25.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last issued its earnings results on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.07. The business had revenue of $275.52 million for the quarter, compared to analyst estimates of $271.33 million. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. Precision Drilling Corporation’s revenue was up 68.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.20) earnings per share. Analysts forecast that Precision Drilling Corporation will post ($0.32) EPS for the current fiscal year.

Precision Drilling Corporation Profile

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

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Institutional Ownership by Quarter for Precision Drilling Corporation (NYSE:PDS)

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