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, according to the company in its most recent disclosure with the SEC. The fund owned 116,155 shares of the oil and gas company’s stock after selling 40,542 shares during the quarter. UBS Group AG owned approximately 0.90% of Precision Drilling worth $8,349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. US Bancorp DE grew its stake in shares of Precision Drilling by 52.3% during the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after buying an additional 408 shares during the last quarter. Creative Planning increased its holdings in Precision Drilling by 6.2% in the third quarter. Creative Planning now owns 8,503 shares of the oil and gas company’s stock valued at $479,000 after purchasing an additional 496 shares during the period. Mackenzie Financial Corp increased its holdings in Precision Drilling by 4.7% in the third quarter. Mackenzie Financial Corp now owns 14,930 shares of the oil and gas company’s stock valued at $841,000 after purchasing an additional 672 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Precision Drilling by 19.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the oil and gas company’s stock valued at $367,000 after purchasing an additional 842 shares during the period. Finally, Quarry LP acquired a new stake in Precision Drilling in the third quarter valued at $54,000. Institutional investors own 48.86% of the company’s stock.

Analysts Set New Price Targets

PDS has been the subject of a number of recent research reports. BMO Capital Markets restated an “outperform” rating on shares of Precision Drilling in a report on Thursday, April 30th. Wall Street Zen downgraded Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Royal Bank Of Canada increased their price objective on Precision Drilling from $124.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, March 23rd. Piper Sandler restated an “overweight” rating and issued a $105.00 price objective (up from $81.00) on shares of Precision Drilling in a report on Tuesday, February 17th. Finally, Loop Capital set a $122.00 price objective on Precision Drilling in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.33.

Precision Drilling Stock Performance

Shares of PDS opened at $94.90 on Monday. 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 stock has a market capitalization of $1.23 billion, a P/E ratio of -100.96 and a beta of 0.79. The firm’s fifty day simple moving average is $93.67 and its two-hundred day simple moving average is $79.63. Precision Drilling Corporation has a 12 month low of $40.39 and a 12 month high of $103.80.

Precision Drilling Company 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.