Foundation Resource Management Inc. Sells 52,590 Shares of Precision Drilling Corp (PDS)
Foundation Resource Management Inc. trimmed its holdings in shares of Precision Drilling Corp (NYSE:PDS) (TSE:PD) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,990 shares of the oil and gas company’s stock after selling 52,590 shares during the period. Foundation Resource Management Inc.’s holdings in Precision Drilling were worth $1,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of PDS. Pacad Investment Ltd. grew its holdings in Precision Drilling by 81.2% during the 2nd quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock worth $112,000 after acquiring an additional 14,700 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Precision Drilling during the 3rd quarter worth about $126,000. Tower Research Capital LLC TRC grew its holdings in Precision Drilling by 200.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 29,724 shares of the oil and gas company’s stock worth $132,000 after acquiring an additional 19,819 shares in the last quarter. Verition Fund Management LLC bought a new position in Precision Drilling during the 2nd quarter worth about $158,000. Finally, Virtu KCG Holdings LLC grew its holdings in Precision Drilling by 49.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 115,581 shares of the oil and gas company’s stock worth $394,000 after acquiring an additional 38,460 shares in the last quarter. Institutional investors own 49.23% of the company’s stock.
Several brokerages have issued reports on PDS. Zacks Investment Research cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Scotiabank lowered shares of Precision Drilling from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, November 7th. ValuEngine lowered shares of Precision Drilling from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Piper Jaffray Companies raised shares of Precision Drilling from a “neutral” rating to an “overweight” rating and increased their price target for the company from $3.60 to $4.25 in a research report on Monday, September 18th. Finally, Deutsche Bank began coverage on shares of Precision Drilling in a research report on Tuesday, October 10th. They set a “hold” rating and a $4.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $4.73.
Precision Drilling Corp (NYSE:PDS) traded up $0.04 during mid-day trading on Wednesday, hitting $3.36. 2,900,400 shares of the company’s stock traded hands, compared to its average volume of 2,680,817. The stock has a market capitalization of $998.22, a price-to-earnings ratio of -10.50 and a beta of 1.77. Precision Drilling Corp has a 1-year low of $2.26 and a 1-year high of $6.07. The company has a current ratio of 2.22, a quick ratio of 2.10 and a debt-to-equity ratio of 0.96.
Precision Drilling (NYSE:PDS) (TSE:PD) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The business had revenue of $314.50 million during the quarter, compared to analyst estimates of $320.36 million. Precision Drilling had a negative net margin of 9.45% and a negative return on equity of 5.93%. The company’s quarterly revenue was up 47.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) earnings per share. sell-side analysts expect that Precision Drilling Corp will post -0.31 EPS for the current year.
Precision Drilling Company 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.
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