Mackenzie Financial Corp Increases Position in Precision Drilling Co. (NYSE:PDS)

Mackenzie Financial Corp boosted its holdings in shares of Precision Drilling Co. (NYSE:PDSGet Rating) (TSE:PD) by 44.8% in the 2nd quarter, Holdings Channel reports. The fund owned 7,708 shares of the oil and gas company’s stock after acquiring an additional 2,385 shares during the quarter. Mackenzie Financial Corp’s holdings in Precision Drilling were worth $495,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PDS. Acadian Asset Management LLC boosted its holdings in Precision Drilling by 3.3% in the 1st quarter. Acadian Asset Management LLC now owns 548,452 shares of the oil and gas company’s stock valued at $40,679,000 after purchasing an additional 17,656 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Precision Drilling by 99.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 468,138 shares of the oil and gas company’s stock valued at $34,703,000 after purchasing an additional 233,273 shares during the last quarter. TD Asset Management Inc. boosted its holdings in Precision Drilling by 31.7% in the 1st quarter. TD Asset Management Inc. now owns 195,248 shares of the oil and gas company’s stock valued at $14,491,000 after purchasing an additional 46,990 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in Precision Drilling in the 1st quarter valued at about $9,926,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Precision Drilling by 89.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 72,662 shares of the oil and gas company’s stock valued at $5,371,000 after purchasing an additional 34,404 shares during the last quarter. Hedge funds and other institutional investors own 45.59% of the company’s stock.

Analysts Set New Price Targets

PDS has been the topic of several recent analyst reports. Canaccord Genuity Group decreased their target price on shares of Precision Drilling from C$115.00 to C$100.00 in a report on Friday, August 19th. Raymond James decreased their price objective on shares of Precision Drilling from C$130.00 to C$115.00 in a report on Wednesday, September 28th. Stifel Nicolaus upped their price objective on shares of Precision Drilling from C$140.00 to C$165.00 in a report on Friday, October 28th. TD Securities upped their price objective on shares of Precision Drilling from C$135.00 to C$145.00 in a report on Friday, October 28th. Finally, TheStreet upgraded shares of Precision Drilling from a “d+” rating to a “c-” rating in a report on Friday, October 28th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $126.11.

Precision Drilling Price Performance

Shares of PDS opened at $81.28 on Friday. Precision Drilling Co. has a fifty-two week low of $29.26 and a fifty-two week high of $87.36. The firm’s 50 day moving average price is $66.58 and its 200 day moving average price is $66.11. The company has a market cap of $1.10 billion, a P/E ratio of -20.02 and a beta of 2.48. 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 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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