Precision Drilling Co. (NYSE:PDS) Holdings Reduced by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its position in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,935 shares of the oil and gas company’s stock after selling 610 shares during the period. CIBC Asset Management Inc’s holdings in Precision Drilling were worth $1,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI grew its position in Precision Drilling by 1.4% in the 3rd quarter. National Bank of Canada FI now owns 726,284 shares of the oil and gas company’s stock worth $44,740,000 after purchasing an additional 10,318 shares during the last quarter. Polar Asset Management Partners Inc. grew its position in Precision Drilling by 111.1% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company’s stock worth $4,226,000 after purchasing an additional 36,100 shares during the last quarter. Franklin Resources Inc. grew its position in Precision Drilling by 21.9% in the 3rd quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock worth $3,961,000 after purchasing an additional 11,331 shares during the last quarter. Mountain Lake Investment Management LLC grew its position in Precision Drilling by 107.9% in the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock worth $3,174,000 after purchasing an additional 26,981 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Precision Drilling by 73.5% in the 3rd quarter. Jane Street Group LLC now owns 16,440 shares of the oil and gas company’s stock worth $1,014,000 after purchasing an additional 6,967 shares during the last quarter. Institutional investors own 48.86% of the company’s stock.

Wall Street Analyst Weigh In

PDS has been the subject of several recent analyst reports. TD Securities cut shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. StockNews.com cut shares of Precision Drilling from a “buy” rating to a “hold” rating in a report on Friday, February 14th.

Precision Drilling Stock Down 1.8 %

PDS stock opened at $53.92 on Friday. Precision Drilling Co. has a 12 month low of $53.31 and a 12 month high of $79.07. The firm has a market cap of $739.17 million, a PE ratio of 10.02 and a beta of 1.91. The firm has a 50 day simple moving average of $59.93 and a 200 day simple moving average of $62.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a net margin of 5.87% and a return on equity of 6.72%. Equities research analysts forecast that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal year.

Precision Drilling Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.