Spark Investment Management LLC lessened its stake in Precision Drilling Corp (NYSE:PDS) (TSE:PD) by 24.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 502,000 shares of the oil and gas company’s stock after selling 161,000 shares during the period. Spark Investment Management LLC’s holdings in Precision Drilling were worth $1,192,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PDS. Gotham Asset Management LLC grew its holdings in shares of Precision Drilling by 3.2% in the 4th quarter. Gotham Asset Management LLC now owns 316,140 shares of the oil and gas company’s stock valued at $550,000 after buying an additional 9,878 shares during the period. Foundation Resource Management Inc. grew its holdings in shares of Precision Drilling by 2.0% in the 1st quarter. Foundation Resource Management Inc. now owns 523,182 shares of the oil and gas company’s stock valued at $1,250,000 after buying an additional 10,074 shares during the period. Legal & General Group Plc grew its holdings in shares of Precision Drilling by 6.4% in the 3rd quarter. Legal & General Group Plc now owns 327,561 shares of the oil and gas company’s stock valued at $1,131,000 after buying an additional 19,746 shares during the period. Millennium Management LLC acquired a new position in shares of Precision Drilling in the 4th quarter valued at $40,000. Finally, Morgan Stanley grew its holdings in shares of Precision Drilling by 1.8% in the 3rd quarter. Morgan Stanley now owns 1,387,162 shares of the oil and gas company’s stock valued at $4,799,000 after buying an additional 25,041 shares during the period. Hedge funds and other institutional investors own 46.18% of the company’s stock.

Several equities analysts have recently issued reports on the stock. ValuEngine lowered shares of Precision Drilling from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. BMO Capital Markets reissued a “buy” rating on shares of Precision Drilling in a report on Friday, April 26th. Raymond James reissued a “buy” rating on shares of Precision Drilling in a report on Friday, April 26th. National Bank Financial reissued a “buy” rating on shares of Precision Drilling in a report on Tuesday, March 19th. Finally, CIBC reissued a “buy” rating on shares of Precision Drilling in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $3.92.

Shares of NYSE PDS opened at $2.15 on Wednesday. The firm has a market capitalization of $619.88 million, a P/E ratio of -8.27 and a beta of 2.27. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.11 and a quick ratio of 1.99. Precision Drilling Corp has a 1-year low of $1.62 and a 1-year high of $4.12.

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Precision Drilling Profile

Precision Drilling Corporation, an oilfield services company, 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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