Precision Drilling Corporation $PDS Shares Sold by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC reduced its position in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 15.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,254 shares of the oil and gas company’s stock after selling 11,907 shares during the quarter. Quotient Wealth Partners LLC owned 0.52% of Precision Drilling worth $6,618,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PDS. FIL Ltd raised its holdings in Precision Drilling by 27,294.7% in the 4th quarter. FIL Ltd now owns 850,331 shares of the oil and gas company’s stock worth $61,017,000 after purchasing an additional 847,227 shares during the period. National Bank of Canada FI grew its holdings in Precision Drilling by 0.6% in the third quarter. National Bank of Canada FI now owns 735,460 shares of the oil and gas company’s stock valued at $41,265,000 after purchasing an additional 4,236 shares during the period. Aegis Financial Corp grew its holdings in Precision Drilling by 11.4% in the fourth quarter. Aegis Financial Corp now owns 504,059 shares of the oil and gas company’s stock valued at $36,221,000 after purchasing an additional 51,700 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Precision Drilling by 24.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 483,937 shares of the oil and gas company’s stock valued at $27,262,000 after purchasing an additional 96,339 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Precision Drilling in the fourth quarter valued at approximately $20,979,000. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Precision Drilling Price Performance

NYSE:PDS opened at $83.49 on Friday. Precision Drilling Corporation has a 12 month low of $45.97 and a 12 month high of $103.80. The stock has a 50 day moving average of $92.52 and a two-hundred day moving average of $85.52. The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.08 billion, a P/E ratio of -88.81 and a beta of 0.76.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. TD Securities reaffirmed a “hold” rating on shares of Precision Drilling in a research note on Friday, May 1st. Loop Capital set a $122.00 price target on shares of Precision Drilling in a research note on Monday, March 2nd. Weiss Ratings raised shares of Precision Drilling from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 5th. Wall Street Zen cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Precision Drilling in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.