Swiss National Bank Purchases 600 Shares of Precision Drilling Co. (NYSE:PDS)

Swiss National Bank raised its holdings in shares of Precision Drilling Co. (NYSE:PDS – Get Rating) (TSE:PD) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,000 shares of the oil and gas company’s stock after buying an additional 600 shares during the quarter. Swiss National Bank owned about 0.24% of Precision Drilling worth $2,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Precision Drilling by 0.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 310,955 shares of the oil and gas company’s stock valued at $15,721,000 after acquiring an additional 1,603 shares during the last quarter. Quadrature Capital Ltd increased its holdings in shares of Precision Drilling by 108.5% in the 3rd quarter. Quadrature Capital Ltd now owns 51,300 shares of the oil and gas company’s stock worth $2,618,000 after purchasing an additional 26,700 shares in the last quarter. Encompass Capital Advisors LLC boosted its stake in shares of Precision Drilling by 0.3% in the 3rd quarter. Encompass Capital Advisors LLC now owns 603,636 shares of the oil and gas company’s stock worth $30,559,000 after buying an additional 1,680 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Precision Drilling by 8.9% in the 4th quarter. TD Asset Management Inc now owns 151,693 shares of the oil and gas company’s stock worth $11,611,000 after buying an additional 12,343 shares during the last quarter. Finally, Navellier & Associates Inc. purchased a new position in Precision Drilling during the fourth quarter valued at $348,000. 45.22% of the stock is currently owned by hedge funds and other institutional investors.

Precision Drilling Trading Up 0.4 %

Precision Drilling stock opened at $46.62 on Thursday. The company has a quick ratio of 1.80, a current ratio of 1.93 and a debt-to-equity ratio of 0.87. Precision Drilling Co. has a 52 week low of $44.60 and a 52 week high of $87.36. The stock has a 50-day moving average price of $49.09 and a 200 day moving average price of $64.45. The company has a market capitalization of $639.72 million, a price-to-earnings ratio of 10.45 and a beta of 2.39.

Analysts Set New Price Targets

Several equities analysts have recently commented on PDS shares. Piper Sandler lowered their price objective on Precision Drilling from $115.00 to $91.00 in a research report on Monday, May 1st. CIBC dropped their price objective on Precision Drilling from C$150.00 to C$135.00 in a report on Friday, April 14th. StockNews.com initiated coverage on shares of Precision Drilling in a research note on Thursday, May 18th. They set a “buy” rating for the company. BMO Capital Markets raised their target price on shares of Precision Drilling from C$115.00 to C$125.00 in a research report on Thursday, April 27th. Finally, Benchmark started coverage on Precision Drilling in a research note on Thursday, February 16th. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Precision Drilling presently has a consensus rating of “Moderate Buy” and an average target price of $127.00.

Precision Drilling Profile

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Precision Drilling Corp. engages in the provision of onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the following business segments: Contract Drilling Services and Completion and Production Services. The Contract Drilling Services segment includes rig and directional drilling, procurement and distribution of oilfield supplies, and the manufacture, sale, and repair of drilling equipment.