Precision Drilling Co. (NYSE:PDS) Stake Raised by Mountain Lake Investment Management LLC

Mountain Lake Investment Management LLC increased its holdings in Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 107.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 51,981 shares of the oil and gas company's stock after acquiring an additional 26,981 shares during the period. Precision Drilling makes up about 3.7% of Mountain Lake Investment Management LLC's holdings, making the stock its 11th largest holding. Mountain Lake Investment Management LLC owned approximately 0.38% of Precision Drilling worth $3,174,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of Precision Drilling by 283.7% in the third quarter. Blue Trust Inc. now owns 2,003 shares of the oil and gas company's stock valued at $123,000 after acquiring an additional 1,481 shares in the last quarter. Signaturefd LLC increased its position in shares of Precision Drilling by 19.9% during the third quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company's stock worth $102,000 after purchasing an additional 276 shares in the last quarter. US Bancorp DE increased its position in shares of Precision Drilling by 56.6% during the third quarter. US Bancorp DE now owns 603 shares of the oil and gas company's stock worth $37,000 after purchasing an additional 218 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Precision Drilling during the third quarter worth about $472,000. Finally, Northwest & Ethical Investments L.P. increased 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 worth $207,000 after purchasing an additional 606 shares in the last quarter. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Precision Drilling Price Performance

PDS stock traded down $0.10 on Wednesday, reaching $54.80. The company had a trading volume of 83,685 shares, compared to its average volume of 89,053. Precision Drilling Co. has a 1 year low of $53.31 and a 1 year high of $79.07. The company has a market cap of $755.20 million, a P/E ratio of 10.19 and a beta of 1.91. The company's fifty day moving average is $60.32 and its 200 day moving average is $63.00. 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 (NYSE:PDS - Get Free Report) TSE: PD last issued its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. On average, research analysts forecast that Precision Drilling Co. will post 8.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PDS shares. StockNews.com lowered Precision Drilling from a "buy" rating to a "hold" rating in a report on Friday, February 14th. TD Securities lowered Precision Drilling from a "strong-buy" rating to a "hold" rating in a 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.