JPMorgan Chase & Co. acquired a new position in Precision Drilling Corp (NYSE:PDS) (TSE:PD) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 308,428 shares of the oil and gas company’s stock, valued at approximately $987,000. JPMorgan Chase & Co. owned approximately 0.11% of Precision Drilling as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of Precision Drilling by 200.1% in 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 buying an additional 19,819 shares in the last quarter. Pacad Investment Ltd. boosted its position in shares of Precision Drilling by 81.2% in the 2nd quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock worth $112,000 after buying an additional 14,700 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in shares of Precision Drilling in the 3rd quarter worth about $126,000. Verition Fund Management LLC purchased a new stake in shares of Precision Drilling in the 2nd quarter worth about $158,000. Finally, Shell Asset Management Co. boosted its position in shares of Precision Drilling by 123.1% in the 3rd quarter. Shell Asset Management Co. now owns 63,798 shares of the oil and gas company’s stock worth $771,000 after buying an additional 35,198 shares in the last quarter. Institutional investors and hedge funds own 49.23% of the company’s stock.
Precision Drilling Corp (NYSE PDS) opened at $3.71 on Friday. Precision Drilling Corp has a one year low of $2.26 and a one year high of $6.07. The firm has a market cap of $1,080.00, a PE ratio of -11.59 and a beta of 1.77. The company has a quick ratio of 2.10, a current ratio of 2.22 and a debt-to-equity ratio of 0.96.
Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Friday, October 27th. The oil and gas company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. Precision Drilling had a negative net margin of 9.45% and a negative return on equity of 5.93%. The firm had revenue of $314.50 million during the quarter, compared to the consensus estimate of $320.36 million. During the same quarter in the previous year, the company posted ($0.16) EPS. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. equities analysts expect that Precision Drilling Corp will post -0.31 earnings per share for the current fiscal year.
Several equities research analysts recently commented on PDS shares. Cowen set a $5.00 price objective on shares of Precision Drilling and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Thursday, January 4th. Piper Jaffray Companies set a $4.00 price objective on shares of Precision Drilling and gave the stock a “buy” rating in a research report on Sunday, October 29th. Deutsche Bank started coverage on shares of Precision Drilling in a research report on Tuesday, October 10th. They issued a “hold” rating and a $4.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 price objective (down from $7.00) on shares of Precision Drilling in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.73.
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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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