Bank of Montreal Can Boosts Stock Position in Precision Drilling Co. (NYSE:PDS)

Bank of Montreal Can boosted its holdings in Precision Drilling Co. (NYSE:PDSGet Rating) (TSE:PD) by 61.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 155,575 shares of the oil and gas company’s stock after buying an additional 59,157 shares during the quarter. Bank of Montreal Can’s holdings in Precision Drilling were worth $10,493,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Acadian Asset Management LLC increased its holdings in Precision Drilling by 3.3% in the first quarter. Acadian Asset Management LLC now owns 548,452 shares of the oil and gas company’s stock valued at $40,679,000 after buying an additional 17,656 shares during the last quarter. Beirne Wealth Consulting Services LLC boosted its stake in shares of Precision Drilling by 2.1% during the first quarter. Beirne Wealth Consulting Services LLC now owns 15,877 shares of the oil and gas company’s stock worth $1,174,000 after buying an additional 324 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Precision Drilling by 99.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 468,138 shares of the oil and gas company’s stock worth $34,703,000 after buying an additional 233,273 shares during the period. Shell Asset Management Co. acquired a new stake in shares of Precision Drilling during the second quarter worth about $96,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Precision Drilling during the first quarter worth about $9,926,000. Hedge funds and other institutional investors own 45.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of Precision Drilling from C$115.00 to C$100.00 in a research note on Friday, August 19th. BMO Capital Markets raised their price objective on shares of Precision Drilling from C$130.00 to C$140.00 in a research report on Thursday, July 28th. TheStreet upgraded shares of Precision Drilling from a “d+” rating to a “c-” rating in a research report on Friday, October 28th. TD Securities raised their price objective on shares of Precision Drilling from C$135.00 to C$145.00 in a research report on Friday, October 28th. Finally, Raymond James reduced their price objective on shares of Precision Drilling from C$130.00 to C$115.00 in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $126.11.

Precision Drilling Price Performance

PDS stock opened at $81.28 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. Precision Drilling Co. has a one year low of $29.26 and a one year high of $87.36. The company has a 50 day moving average price of $66.21 and a two-hundred day moving average price of $66.00.

Precision Drilling Company Profile

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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 in two segments, Contract Drilling Services; and Completion and Production Services.

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Institutional Ownership by Quarter for Precision Drilling (NYSE:PDS)

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