Precision Drilling Co. (NYSE:PDS) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lowered its position in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 49.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,483 shares of the oil and gas company's stock after selling 32,298 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.24% of Precision Drilling worth $2,045,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PDS. Arrowstreet Capital Limited Partnership raised its holdings in shares of Precision Drilling by 3,575.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company's stock valued at $9,395,000 after acquiring an additional 149,616 shares during the last quarter. Mountain Lake Investment Management LLC increased its holdings in shares of Precision Drilling by 107.9% in the fourth 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 during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Precision Drilling by 91.7% in the fourth quarter. JPMorgan Chase & Co. now owns 28,691 shares of the oil and gas company's stock valued at $1,752,000 after purchasing an additional 13,722 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Precision Drilling by 21.9% in the third quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company's stock valued at $3,961,000 after purchasing an additional 11,331 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Precision Drilling by 1.4% in the third quarter. National Bank of Canada FI now owns 726,284 shares of the oil and gas company's stock valued at $44,740,000 after purchasing an additional 10,318 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company's stock.

Precision Drilling Stock Down 7.5 %

Shares of NYSE PDS traded down $3.29 during mid-day trading on Thursday, hitting $40.82. The company had a trading volume of 53,145 shares, compared to its average volume of 81,331. The company has a market capitalization of $553.03 million, a PE ratio of 7.60 and a beta of 1.53. 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 Co. has a 1-year low of $36.20 and a 1-year high of $79.07. The business's 50-day simple moving average is $48.64 and its 200 day simple moving average is $57.28.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last posted its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates 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 predict that Precision Drilling Co. will post 7.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PDS shares. Raymond James cut Precision Drilling from a "strong-buy" rating to an "outperform" rating in a report on Wednesday. StockNews.com cut Precision Drilling from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, TD Securities lowered Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd.

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.