Highbridge Capital Management LLC boosted its position in Precision Drilling Corp (NYSE:PDS) (TSE:PD) by 44.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500,000 shares of the oil and gas company’s stock after purchasing an additional 463,200 shares during the period. Highbridge Capital Management LLC owned about 0.51% of Precision Drilling worth $4,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake in Precision Drilling by 44.6% in the 2nd quarter. Franklin Resources Inc. now owns 44,803,597 shares of the oil and gas company’s stock valued at $153,112,000 after purchasing an additional 13,815,928 shares in the last quarter. FMR LLC increased its stake in Precision Drilling by 22.1% in the 2nd quarter. FMR LLC now owns 16,603,054 shares of the oil and gas company’s stock valued at $56,719,000 after purchasing an additional 3,007,124 shares in the last quarter. Vanguard Group Inc. increased its stake in Precision Drilling by 7.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,074,303 shares of the oil and gas company’s stock valued at $20,712,000 after purchasing an additional 413,573 shares in the last quarter. TD Asset Management Inc. increased its position in Precision Drilling by 2.3% during the third quarter. TD Asset Management Inc. now owns 5,892,703 shares of the oil and gas company’s stock worth $18,284,000 after buying an additional 134,087 shares in the last quarter. Finally, AGF Investments Inc. increased its position in Precision Drilling by 21.7% during the third quarter. AGF Investments Inc. now owns 1,871,291 shares of the oil and gas company’s stock worth $5,819,000 after buying an additional 334,000 shares in the last quarter. 49.27% of the stock is owned by hedge funds and other institutional investors.

Precision Drilling Corp (PDS) traded down $0.05 during mid-day trading on Wednesday, hitting $2.71. The stock had a trading volume of 1,948,700 shares, compared to its average volume of 2,920,906. Precision Drilling Corp has a 1-year low of $2.26 and a 1-year high of $6.14. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.10 and a current ratio of 2.22.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. Precision Drilling had a negative return on equity of 5.93% and a negative net margin of 9.45%. The business had revenue of $314.50 million for the quarter, compared to analysts’ expectations of $320.36 million. During the same quarter last year, the firm earned ($0.16) earnings per share. The business’s revenue was up 47.2% on a year-over-year basis. equities research analysts predict that Precision Drilling Corp will post -0.3 EPS for the current fiscal year.

Several equities analysts have weighed in on PDS shares. TD Securities started coverage on Precision Drilling in a research report on Monday, September 11th. They set a “buy” rating for the company. Cowen set a $5.00 price target on Precision Drilling and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Piper Jaffray Companies set a $4.00 price target on Precision Drilling and gave the stock a “buy” rating in a research report on Sunday, October 29th. Zacks Investment Research raised Precision Drilling from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Deutsche Bank started coverage on 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 research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $5.04.

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

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