Precision Drilling Corporation $PDS Stock Holdings Increased by Aegis Financial Corp

Aegis Financial Corp raised its position in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 504,059 shares of the oil and gas company’s stock after acquiring an additional 51,700 shares during the period. Precision Drilling makes up approximately 8.6% of Aegis Financial Corp’s holdings, making the stock its 3rd biggest holding. Aegis Financial Corp’s holdings in Precision Drilling were worth $36,221,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PDS. Cubist Systematic Strategies LLC purchased a new stake in shares of Precision Drilling during the 1st quarter worth approximately $45,000. Goldman Sachs Group Inc. raised its holdings in shares of Precision Drilling by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,896 shares of the oil and gas company’s stock worth $6,475,000 after acquiring an additional 30,690 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Precision Drilling by 20.3% during the 2nd quarter. Geode Capital Management LLC now owns 65,512 shares of the oil and gas company’s stock worth $3,095,000 after acquiring an additional 11,056 shares in the last quarter. Creative Planning purchased a new stake in shares of Precision Drilling during the 2nd quarter worth approximately $378,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Precision Drilling during the 2nd quarter worth approximately $57,000. 48.86% of the stock is owned by hedge funds and other institutional investors.

Precision Drilling Stock Performance

PDS stock opened at $96.35 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $93.31 and its two-hundred day simple moving average is $84.53. Precision Drilling Corporation has a twelve month low of $45.97 and a twelve month high of $103.80. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -102.49 and a beta of 0.76.

Analyst Ratings Changes

PDS has been the topic of several recent research reports. Weiss Ratings upgraded Precision Drilling from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 5th. Wall Street Zen lowered Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Precision Drilling in a report on Friday, May 1st. Loop Capital set a $122.00 price target on Precision Drilling in a report on Monday, March 2nd. Finally, Royal Bank Of Canada increased their price target on Precision Drilling from $124.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.33.

Precision Drilling Company Profile

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.