Arrowstreet Capital Limited Partnership Purchases 149,616 Shares of Precision Drilling Co. (NYSE:PDS)

Arrowstreet Capital Limited Partnership grew its holdings in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 3,575.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,800 shares of the oil and gas company's stock after purchasing an additional 149,616 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.12% of Precision Drilling worth $9,395,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PDS. Geode Capital Management LLC boosted its stake in shares of Precision Drilling by 6.6% in the third quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company's stock valued at $425,000 after buying an additional 424 shares during the period. Signaturefd LLC lifted its position in shares of Precision Drilling by 30.1% during the 4th quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company's stock valued at $132,000 after acquiring an additional 499 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Precision Drilling by 10.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,477 shares of the oil and gas company's stock worth $518,000 after purchasing an additional 824 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of Precision Drilling by 10.8% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 8,477 shares of the oil and gas company's stock worth $518,000 after purchasing an additional 824 shares during the period. Finally, Sanctuary Advisors LLC raised its stake in Precision Drilling by 18.8% in the third quarter. Sanctuary Advisors LLC now owns 7,690 shares of the oil and gas company's stock valued at $510,000 after purchasing an additional 1,215 shares in the last quarter. 48.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Raymond James downgraded shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a research note on Wednesday. TD Securities lowered shares of Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Precision Drilling from a "buy" rating to a "hold" rating in a research note on Monday, March 24th.

Precision Drilling Price Performance

NYSE:PDS traded up $1.58 during trading hours on Friday, hitting $42.48. The company's stock had a trading volume of 167,754 shares, compared to its average volume of 82,469. Precision Drilling Co. has a twelve month low of $36.20 and a twelve month high of $79.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35. The stock has a fifty day simple moving average of $48.03 and a 200-day simple moving average of $56.97. The company has a market capitalization of $575.52 million, a P/E ratio of 7.90 and a beta of 1.53.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last announced its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share (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%. On average, analysts anticipate that Precision Drilling Co. will post 7.1 EPS 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.