Polar Asset Management Partners Inc. Grows Holdings in Precision Drilling Co. (NYSE:PDS)

Polar Asset Management Partners Inc. raised its stake in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 111.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,600 shares of the oil and gas company's stock after buying an additional 36,100 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.49% of Precision Drilling worth $4,226,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Precision Drilling by 2,800.0% in the second quarter. Blue Trust Inc. now owns 522 shares of the oil and gas company's stock worth $35,000 after buying an additional 504 shares in the last quarter. US Bancorp DE boosted its stake in Precision Drilling by 56.6% during the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company's stock valued at $37,000 after purchasing an additional 218 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Precision Drilling by 32.6% during the second quarter. Signaturefd LLC now owns 1,384 shares of the oil and gas company's stock valued at $97,000 after purchasing an additional 340 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in shares of Precision Drilling by 22.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company's stock valued at $207,000 after buying an additional 606 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Precision Drilling in the second quarter worth approximately $210,000. Hedge funds and other institutional investors own 48.86% of the company's stock.

Precision Drilling Stock Performance

Shares of NYSE:PDS traded up $0.60 during trading on Thursday, hitting $61.28. The company's stock had a trading volume of 40,576 shares, compared to its average volume of 68,998. The company has a 50-day moving average of $62.10 and a 200-day moving average of $66.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 1.41. The firm has a market cap of $862.21 million, a price-to-earnings ratio of 5.13 and a beta of 1.96. Precision Drilling Co. has a 12 month low of $49.67 and a 12 month high of $79.07.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price target on Precision Drilling from $95.00 to $112.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd.

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.