Toronto Dominion Bank boosted its holdings in shares of Precision Drilling Corp (NYSE:PDS) (TSE:PD) by 62.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,666,313 shares of the oil and gas company’s stock after acquiring an additional 640,098 shares during the quarter. Toronto Dominion Bank owned about 0.57% of Precision Drilling worth $5,536,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PDS. Bank of New York Mellon Corp increased its stake in Precision Drilling by 138.1% during the second quarter. Bank of New York Mellon Corp now owns 35,916 shares of the oil and gas company’s stock worth $119,000 after acquiring an additional 20,833 shares during the last quarter. Element Capital Management LLC acquired a new stake in Precision Drilling during the first quarter worth $184,000. Raymond James Financial Services Advisors Inc. increased its stake in Precision Drilling by 112.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 59,537 shares of the oil and gas company’s stock worth $197,000 after acquiring an additional 31,461 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Precision Drilling by 55.6% during the first quarter. Cubist Systematic Strategies LLC now owns 120,113 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 42,918 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Precision Drilling by 1,439.4% during the first quarter. JPMorgan Chase & Co. now owns 159,621 shares of the oil and gas company’s stock worth $443,000 after acquiring an additional 149,252 shares during the last quarter. 51.84% of the stock is owned by institutional investors.

Shares of NYSE PDS opened at $3.99 on Friday. Precision Drilling Corp has a twelve month low of $2.26 and a twelve month high of $4.14. The company has a quick ratio of 1.65, a current ratio of 1.79 and a debt-to-equity ratio of 0.98.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data on Thursday, July 26th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.01). Precision Drilling had a negative net margin of 9.92% and a negative return on equity of 6.23%. The firm had revenue of $330.70 million during the quarter, compared to analyst estimates of $320.66 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. analysts predict that Precision Drilling Corp will post -0.22 EPS for the current fiscal year.

Several equities research analysts have issued reports on the company. Piper Jaffray Companies reissued a “buy” rating and set a $5.25 target price on shares of Precision Drilling in a research note on Tuesday, July 31st. Jefferies Financial Group set a $5.00 price objective on Precision Drilling and gave the company a “buy” rating in a research note on Monday, July 30th. Credit Suisse Group lifted their price objective on Precision Drilling from $3.80 to $3.90 and gave the company a “neutral” rating in a research note on Friday, July 27th. Zacks Investment Research cut Precision Drilling from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Finally, Morgan Stanley raised Precision Drilling from an “equal weight” rating to an “overweight” rating and set a $4.25 price objective for the company in a research note on Thursday, July 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.64.

Precision Drilling Profile

Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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

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