Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 51.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,300 shares of the oil and gas company's stock after selling 20,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of Precision Drilling worth $1,188,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in PDS. Dimensional Fund Advisors LP boosted its stake in Precision Drilling by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 201,625 shares of the oil and gas company's stock worth $14,182,000 after buying an additional 28,947 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Precision Drilling by 31.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 57,949 shares of the oil and gas company's stock valued at $4,073,000 after acquiring an additional 13,749 shares in the last quarter. Nicola Wealth Management LTD. increased its stake in Precision Drilling by 75.0% in the second quarter. Nicola Wealth Management LTD. now owns 28,000 shares of the oil and gas company's stock valued at $1,970,000 after acquiring an additional 12,000 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new position in Precision Drilling during the third quarter worth about $472,000. Finally, Versor Investments LP bought a new position in Precision Drilling during the second quarter worth about $527,000. Institutional investors own 48.86% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on PDS shares. StockNews.com raised Precision Drilling from a "hold" rating to a "buy" rating in a report on Thursday, August 1st. Piper Sandler boosted their price target on shares of Precision Drilling from $95.00 to $112.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd.
Check Out Our Latest Stock Report on Precision Drilling
Precision Drilling Trading Down 4.6 %
Shares of PDS opened at $61.60 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.41 and a current ratio of 1.54. The company has a market cap of $866.71 million, a price-to-earnings ratio of 5.21 and a beta of 1.97. The stock has a fifty day moving average price of $62.57 and a two-hundred day moving average price of $67.29. Precision Drilling Co. has a 52-week low of $49.67 and a 52-week high of $79.07.
Precision Drilling Profile
(
Free Report)
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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