Precision Drilling Corporation $PDS Shares Acquired by Aegis Financial Corp

Aegis Financial Corp increased its position in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 110.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 452,359 shares of the oil and gas company’s stock after acquiring an additional 236,963 shares during the quarter. Precision Drilling comprises approximately 9.8% of Aegis Financial Corp’s portfolio, making the stock its 3rd biggest holding. Aegis Financial Corp’s holdings in Precision Drilling were worth $25,486,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in Precision Drilling in the 1st quarter valued at about $45,000. US Bancorp DE raised its position in shares of Precision Drilling by 52.3% during the 3rd quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 408 shares during the period. Raymond James Financial Inc. acquired a new position in Precision Drilling in the second quarter valued at approximately $57,000. Vanguard Personalized Indexing Management LLC purchased a new position in Precision Drilling in the third quarter worth approximately $239,000. Finally, State of Wyoming acquired a new stake in Precision Drilling during the third quarter worth $243,000. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Precision Drilling Trading Down 0.8%

NYSE:PDS opened at $85.97 on Friday. Precision Drilling Corporation has a 12-month low of $36.20 and a 12-month high of $92.40. The firm has a market cap of $1.11 billion, a PE ratio of -220.42 and a beta of 1.04. The company has a current ratio of 1.62, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $78.33 and a 200 day moving average price of $65.57.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings results on Wednesday, February 11th. The oil and gas company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.26. The company had revenue of $349.37 million during the quarter, compared to the consensus estimate of $489.80 million. Precision Drilling had a net margin of 0.05% and a return on equity of 4.12%. Sell-side analysts anticipate that Precision Drilling Corporation will post 7.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PDS has been the topic of a number of research analyst reports. BMO Capital Markets restated an “outperform” rating on shares of Precision Drilling in a research report on Thursday, February 12th. ATB Cormark Capital Markets upgraded shares of Precision Drilling to a “strong-buy” rating in a report on Thursday, October 30th. Zacks Research raised shares of Precision Drilling from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. TD Securities reiterated a “hold” rating on shares of Precision Drilling in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Precision Drilling in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.50.

About Precision Drilling

Precision Drilling Corporation (NYSE: PDS) is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company’s core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.