Canada Pension Plan Investment Board Purchases New Position in Precision Drilling Co. (NYSE:PDS)

Canada Pension Plan Investment Board acquired a new position in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,800 shares of the oil and gas company's stock, valued at approximately $2,492,000. Canada Pension Plan Investment Board owned approximately 0.30% of Precision Drilling at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its stake in shares of Precision Drilling by 3,575.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company's stock worth $9,395,000 after buying an additional 149,616 shares during the last quarter. Bank of Montreal Can grew its holdings in Precision Drilling by 28.0% during the 4th quarter. Bank of Montreal Can now owns 602,954 shares of the oil and gas company's stock worth $36,832,000 after acquiring an additional 131,843 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Precision Drilling by 190.0% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 81,500 shares of the oil and gas company's stock worth $4,982,000 after purchasing an additional 53,400 shares during the last quarter. Mountain Lake Investment Management LLC raised its stake in shares of 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 valued at $3,174,000 after purchasing an additional 26,981 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Precision Drilling by 91.7% during the fourth quarter. JPMorgan Chase & Co. now owns 28,691 shares of the oil and gas company's stock worth $1,752,000 after purchasing an additional 13,722 shares during the last quarter. Hedge funds and other institutional investors own 48.86% of the company's stock.

Precision Drilling Stock Down 1.2 %

Precision Drilling stock opened at $42.50 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48. Precision Drilling Co. has a one year low of $36.20 and a one year high of $79.07. The company has a 50-day simple moving average of $45.81 and a 200-day simple moving average of $55.90. The firm has a market capitalization of $568.20 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 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%. As a group, equities analysts expect that Precision Drilling Co. will post 7.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on PDS shares. TD Securities downgraded Precision Drilling from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Raymond James downgraded shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating in a report on Wednesday, April 9th. Finally, StockNews.com cut shares of Precision Drilling from a "buy" rating to a "hold" rating in a report on Monday, March 24th.

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.

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