Precision Drilling Co. (NYSE:PDS) Short Interest Down 22.1% in October

Precision Drilling Co. (NYSE:PDS - Get Free Report) TSE: PD was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 184,100 shares, a decrease of 22.1% from the September 30th total of 236,200 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average trading volume of 57,000 shares, the days-to-cover ratio is currently 3.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Precision Drilling by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 86,114 shares of the oil and gas company's stock valued at $4,700,000 after buying an additional 17,214 shares during the period. Hartree Partners LP boosted its holdings in Precision Drilling by 113.3% during the 1st quarter. Hartree Partners LP now owns 80,000 shares of the oil and gas company's stock valued at $5,384,000 after acquiring an additional 42,500 shares during the period. Swiss National Bank grew its position in Precision Drilling by 6.3% in the 1st quarter. Swiss National Bank now owns 28,600 shares of the oil and gas company's stock valued at $1,923,000 after acquiring an additional 1,700 shares during the last quarter. Aegis Financial Corp purchased a new stake in Precision Drilling in the first quarter worth $6,124,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Precision Drilling by 27.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 29,549 shares of the oil and gas company's stock worth $1,989,000 after purchasing an additional 6,328 shares during the last quarter. 48.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PDS. StockNews.com upgraded Precision Drilling from a "hold" rating to a "buy" rating in a research report on Thursday, August 1st. Piper Sandler raised their price target on Precision Drilling from $95.00 to $112.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd.

Precision Drilling Trading Up 1.2 %

Shares of NYSE:PDS traded up $0.68 during trading on Friday, reaching $58.85. The company's stock had a trading volume of 83,680 shares, compared to its average volume of 66,283. The firm's 50 day simple moving average is $65.00 and its two-hundred day simple moving average is $68.39. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.52. Precision Drilling has a 12 month low of $49.67 and a 12 month high of $79.07. The stock has a market capitalization of $827.43 million, a PE ratio of 5.25 and a beta of 1.96.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $2.06. The business had revenue of $429.20 million during the quarter, compared to analyst estimates of $310.13 million. Precision Drilling had a return on equity of 9.26% and a net margin of 11.68%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company earned $1.21 EPS. On average, research analysts predict that Precision Drilling will post 6.57 EPS for the current fiscal year.

Precision Drilling Company 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.