UBS Group AG Sells 40,542 Shares of Precision Drilling Corporation $PDS

UBS Group AG lessened its stake in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 25.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 116,155 shares of the oil and gas company’s stock after selling 40,542 shares during the period. UBS Group AG’s holdings in Precision Drilling were worth $8,349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. US Bancorp DE boosted its position in shares of Precision Drilling by 52.3% during the 3rd quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 408 shares in the last quarter. Creative Planning boosted its position in shares of Precision Drilling by 6.2% during the 3rd quarter. Creative Planning now owns 8,503 shares of the oil and gas company’s stock worth $479,000 after purchasing an additional 496 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Precision Drilling by 4.7% during the 3rd quarter. Mackenzie Financial Corp now owns 14,930 shares of the oil and gas company’s stock worth $841,000 after purchasing an additional 672 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Precision Drilling by 19.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the oil and gas company’s stock worth $367,000 after purchasing an additional 842 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Precision Drilling during the 3rd quarter worth about $54,000. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Trading Down 0.1%

PDS opened at $94.90 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.52. Precision Drilling Corporation has a fifty-two week low of $40.39 and a fifty-two week high of $103.80. The firm has a market capitalization of $1.23 billion, a PE ratio of -100.96 and a beta of 0.79. The company’s 50-day moving average is $93.67 and its 200 day moving average is $79.63.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Precision Drilling in a research report on Thursday, April 30th. Loop Capital set a $122.00 target price on shares of Precision Drilling in a report on Monday, March 2nd. Royal Bank Of Canada upped their target price on shares of Precision Drilling from $124.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, March 23rd. TD Securities restated a “hold” rating on shares of Precision Drilling in a report on Friday, May 1st. Finally, Wall Street Zen lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.33.

Precision Drilling Profile

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.