Precision Drilling Co. (NYSE:PDS) Stake Reduced by Ninepoint Partners LP

Ninepoint Partners LP lessened its position in shares of Precision Drilling Co. (NYSE:PDS - Free Report) TSE: PD by 47.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 600,000 shares of the oil and gas company's stock after selling 550,000 shares during the quarter. Precision Drilling accounts for 5.4% of Ninepoint Partners LP's portfolio, making the stock its 5th biggest holding. Ninepoint Partners LP owned 4.35% of Precision Drilling worth $36,642,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PDS. National Bank of Canada FI raised its stake 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 worth $44,740,000 after buying an additional 10,318 shares during the period. Greatmark Investment Partners Inc. lifted its position in shares of Precision Drilling by 9.0% in the fourth quarter. Greatmark Investment Partners Inc. now owns 91,601 shares of the oil and gas company's stock worth $5,594,000 after buying an additional 7,540 shares in the last quarter. Polar Asset Management Partners Inc. boosted its position in shares of Precision Drilling by 111.1% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company's stock valued at $4,226,000 after acquiring an additional 36,100 shares during the last quarter. Franklin Resources Inc. lifted its position in Precision Drilling by 21.9% during 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, Mountain Lake Investment Management LLC grew its position in 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 worth $3,174,000 after acquiring an additional 26,981 shares in the last quarter. Institutional investors own 48.86% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have issued reports on PDS shares. TD Securities lowered Precision Drilling from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of Precision Drilling from a "hold" rating to a "buy" rating in a report on Sunday.

Precision Drilling Stock Performance

Shares of NYSE:PDS traded down $0.06 on Thursday, hitting $45.47. 67,612 shares of the company were exchanged, compared to its average volume of 70,833. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The stock's 50 day moving average price is $55.16 and its 200 day moving average price is $59.78. Precision Drilling Co. has a 1-year low of $43.00 and a 1-year high of $79.07. The firm has a market capitalization of $623.30 million, a P/E ratio of 8.45 and a beta of 2.05.

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

About Precision Drilling

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.