Greatmark Investment Partners Inc. Has $11.13 Million Stake in Precision Drilling Corporation $PDS

Greatmark Investment Partners Inc. lowered its stake in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 7.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 113,189 shares of the oil and gas company’s stock after selling 9,305 shares during the quarter. Precision Drilling comprises approximately 1.3% of Greatmark Investment Partners Inc.’s investment portfolio, making the stock its 24th largest position. Greatmark Investment Partners Inc.’s holdings in Precision Drilling were worth $11,134,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Precision Drilling in the 1st quarter valued at about $45,000. Quarry LP bought a new position in Precision Drilling during the 3rd quarter worth approximately $54,000. Raymond James Financial Inc. acquired a new position in Precision Drilling during the second quarter valued at approximately $57,000. Wolverine Asset Management LLC grew its holdings in Precision Drilling by 112.9% during the fourth quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 7,000 shares during the period. Finally, US Bancorp DE increased its stake in Precision Drilling by 52.3% in the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 408 shares in the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Precision Drilling Trading Down 0.1%

NYSE:PDS opened at $75.63 on Tuesday. The business has a 50 day moving average price of $90.12 and a two-hundred day moving average price of $86.45. Precision Drilling Corporation has a twelve month low of $48.59 and a twelve month high of $103.80. 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 company has a market cap of $977.11 million, a P/E ratio of -80.46 and a beta of 0.76.

Analysts Set New Price Targets

PDS has been the topic of several analyst reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Precision Drilling in a report on Friday, May 1st. BMO Capital Markets restated an “outperform” rating on shares of Precision Drilling in a research report on Thursday, April 30th. Wall Street Zen downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Weiss Ratings lowered Precision Drilling from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Finally, TD Securities reissued a “hold” rating on shares of Precision Drilling in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Precision Drilling currently has an average rating of “Moderate Buy” and a consensus target price of $122.33.

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.