Precision Drilling Corp (PDS) Position Held by Shell Asset Management Co.

Shell Asset Management Co. continued to hold its stake in Precision Drilling Corp (NYSE:PDS) (TSE:PD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,600 shares of the oil and gas company’s stock at the end of the 2nd quarter. Shell Asset Management Co.’s holdings in Precision Drilling Corp were worth $127,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of Precision Drilling Corp in the 4th quarter worth about $223,000. Creative Planning lifted its position in shares of Precision Drilling Corp by 2,814.8% in the 1st quarter. Creative Planning now owns 146,468 shares of the oil and gas company’s stock worth $691,000 after purchasing an additional 141,443 shares during the period. Bank of Montreal Can lifted its position in shares of Precision Drilling Corp by 35.6% in the 1st quarter. Bank of Montreal Can now owns 1,560,334 shares of the oil and gas company’s stock worth $7,365,000 after purchasing an additional 409,616 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its position in shares of Precision Drilling Corp by 86.7% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 5,307,967 shares of the oil and gas company’s stock worth $25,054,000 after purchasing an additional 2,465,322 shares during the period. Finally, Ferguson Wellman Capital Management Inc. lifted its position in shares of Precision Drilling Corp by 7,387.1% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 906,690 shares of the oil and gas company’s stock worth $4,280,000 after purchasing an additional 894,580 shares during the period. 61.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of Precision Drilling Corp (NYSE:PDS) traded up 1.56% during mid-day trading on Tuesday, hitting $2.60. 3,577,396 shares of the stock were exchanged. The stock has a 50-day moving average price of $2.84 and a 200 day moving average price of $3.80. The firm’s market cap is $762.42 million. Precision Drilling Corp has a 52-week low of $2.38 and a 52-week high of $6.25.

Precision Drilling Corp (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.07. The company had revenue of $275.52 million for the quarter, compared to the consensus estimate of $271.33 million. Precision Drilling Corp had a negative return on equity of 7.57% and a negative net margin of 13.11%. The firm’s quarterly revenue was up 68.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.20) EPS. On average, equities research analysts expect that Precision Drilling Corp will post ($0.32) earnings per share for the current year.

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Several research firms have recently commented on PDS. Morgan Stanley cut shares of Precision Drilling Corp from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $9.00 to $4.50 in a research report on Wednesday, June 21st. Jefferies Group LLC set a $6.00 price target on shares of Precision Drilling Corp and gave the company a “buy” rating in a research report on Tuesday, June 6th. Wolfe Research cut shares of Precision Drilling Corp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 6th. Zacks Investment Research raised shares of Precision Drilling Corp from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies lowered shares of Precision Drilling Corp from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $5.00 to $3.25 in a research note on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $6.21.

Precision Drilling Corp 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.

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

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