Precision Drilling Co. (NYSE:PDS) Stake Lessened by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,219 shares of the oil and gas company’s stock after selling 320 shares during the period. Mackenzie Financial Corp’s holdings in Precision Drilling were worth $563,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its position in Precision Drilling by 3,575.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company’s stock worth $9,395,000 after buying an additional 149,616 shares in the last quarter. Mountain Lake Investment Management LLC grew its position in Precision Drilling by 107.9% in the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock worth $3,174,000 after purchasing an additional 26,981 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Precision Drilling by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 265,254 shares of the oil and gas company’s stock worth $16,198,000 after acquiring an additional 29,612 shares during the period. Quantbot Technologies LP lifted its holdings in shares of Precision Drilling by 1,741.8% during the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 2,125 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Precision Drilling by 33.3% during the 4th quarter. Bank of America Corp DE now owns 396,072 shares of the oil and gas company’s stock worth $24,188,000 after acquiring an additional 98,836 shares during the period. Hedge funds and other institutional investors own 48.86% of the company’s stock.

Precision Drilling Trading Up 2.7%

Shares of NYSE PDS opened at $44.21 on Tuesday. Precision Drilling Co. has a 1-year low of $36.20 and a 1-year high of $79.07. The company has a market cap of $594.10 million, a PE ratio of 8.22 and a beta of 1.07. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $42.85 and a two-hundred day moving average of $52.16.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The business had revenue of $345.41 million for the quarter, compared to the consensus estimate of $508.06 million. Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. As a group, equities analysts expect that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Raymond James downgraded shares of Precision Drilling from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, April 9th. TD Securities lowered shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, Wall Street Zen lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th.

Precision Drilling Profile

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 through Contract Drilling Services and Completion and Production Services segments.