7,257 Shares in Precision Drilling Corporation $PDS Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,257 shares of the oil and gas company’s stock, valued at approximately $557,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PDS. Group One Trading LLC bought a new position in Precision Drilling during the 1st quarter worth approximately $81,000. Quarry LP bought a new stake in shares of Precision Drilling in the 3rd quarter valued at $54,000. Cubist Systematic Strategies LLC bought a new stake in shares of Precision Drilling in the 1st quarter valued at $45,000. US Bancorp DE increased its position in shares of Precision Drilling by 52.3% during the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock worth $67,000 after buying an additional 408 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Precision Drilling during the second quarter worth $57,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Trading Down 0.7%

NYSE:PDS opened at $89.30 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.29. The firm has a 50-day moving average of $83.96 and a 200-day moving average of $88.85. The company has a market cap of $1.14 billion, a PE ratio of -42.72 and a beta of 0.81. Precision Drilling Corporation has a one year low of $53.42 and a one year high of $103.80.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its quarterly earnings results on Tuesday, July 28th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.81). Precision Drilling had a negative net margin of 1.68% and a positive return on equity of 2.11%. The business had revenue of $319.15 million during the quarter, compared to the consensus estimate of $310.70 million. As a group, equities research analysts expect that Precision Drilling Corporation will post 4.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PDS. Weiss Ratings downgraded shares of Precision Drilling from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Zacks Research cut shares of Precision Drilling from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen downgraded Precision Drilling from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Precision Drilling presently has an average rating of “Moderate Buy” and an average price target of $122.33.

Precision Drilling Profile

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.