Dynamic Technology Lab Private Ltd decreased its position in shares of Precision Drilling Corp (NYSE:PDS) (TSE:PD) by 48.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,896 shares of the oil and gas company’s stock after selling 68,164 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Precision Drilling were worth $242,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Swiss National Bank raised its position in shares of Precision Drilling by 3.4% during the 1st quarter. Swiss National Bank now owns 510,600 shares of the oil and gas company’s stock worth $1,417,000 after purchasing an additional 16,900 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Precision Drilling by 138.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 35,916 shares of the oil and gas company’s stock worth $119,000 after purchasing an additional 20,833 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Precision Drilling by 112.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 59,537 shares of the oil and gas company’s stock worth $197,000 after purchasing an additional 31,461 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Precision Drilling by 55.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 120,113 shares of the oil and gas company’s stock worth $333,000 after purchasing an additional 42,918 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new position in shares of Precision Drilling during the 2nd quarter worth approximately $202,000. 50.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of PDS opened at $3.65 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.79 and a quick ratio of 1.65. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -13.04 and a beta of 1.85. Precision Drilling Corp has a fifty-two week low of $2.26 and a fifty-two week high of $4.14.

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

Several research analysts recently issued reports on PDS shares. Credit Suisse Group lifted their price objective on Precision Drilling from $3.80 to $3.90 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Piper Jaffray Companies restated a “buy” rating and set a $5.25 price objective on shares of Precision Drilling in a research report on Tuesday, July 31st. TD Securities downgraded Precision Drilling to a “buy” rating in a research report on Wednesday, September 5th. Jefferies Financial Group set a $5.00 price objective on Precision Drilling and gave the stock a “buy” rating in a research report on Monday, July 30th. Finally, Zacks Investment Research downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $4.64.

Precision Drilling Company 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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