Beirne Wealth Consulting Services LLC Makes New Investment in Precision Drilling Corporation $PDS

Beirne Wealth Consulting Services LLC bought a new stake in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,770 shares of the oil and gas company’s stock, valued at approximately $325,000.

Other large investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in Precision Drilling in the first quarter valued at approximately $45,000. Raymond James Financial Inc. bought a new stake in shares of Precision Drilling in the second quarter valued at $57,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Precision Drilling in the third quarter valued at $239,000. State of Wyoming purchased a new position in shares of Precision Drilling during the 3rd quarter valued at $243,000. Finally, Ballentine Partners LLC purchased a new stake in Precision Drilling in the 3rd quarter worth about $259,000. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $124.00 price objective (up from $119.00) on shares of Precision Drilling in a report on Friday. Piper Sandler restated an “overweight” rating and set a $105.00 price target (up from $81.00) on shares of Precision Drilling in a research note on Tuesday. Zacks Research raised shares of Precision Drilling from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Precision Drilling in a report on Wednesday, January 28th. Finally, ATB Cormark Capital Markets raised Precision Drilling to a “strong-buy” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.50.

Precision Drilling Stock Performance

Precision Drilling stock opened at $87.09 on Wednesday. Precision Drilling Corporation has a 1-year low of $36.20 and a 1-year high of $91.99. The company has a current ratio of 1.62, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1.12 billion, a PE ratio of -223.30 and a beta of 1.04. The firm’s 50 day simple moving average is $75.68 and its 200 day simple moving average is $64.08.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings results on Wednesday, February 11th. The oil and gas company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.11 by $0.26. The firm had revenue of $349.37 million during the quarter, compared to the consensus estimate of $489.80 million. Precision Drilling had a net margin of 0.05% and a return on equity of 4.12%. As a group, analysts expect that Precision Drilling Corporation will post 7.1 earnings per share for the current fiscal year.

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.