Public Employees Retirement System of Ohio Sells 7,958 Shares of Precision Drilling Corporation $PDS

Public Employees Retirement System of Ohio lessened its holdings in shares of Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 51.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,454 shares of the oil and gas company’s stock after selling 7,958 shares during the period. Public Employees Retirement System of Ohio owned 0.06% of Precision Drilling worth $731,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new position in Precision Drilling during the 1st quarter worth $45,000. Quarry LP bought a new stake in shares of Precision Drilling in the 3rd quarter valued at about $54,000. Raymond James Financial Inc. bought a new stake in shares of Precision Drilling in the 2nd quarter valued at about $57,000. Wolverine Asset Management LLC increased its stake in shares of Precision Drilling by 112.9% in the fourth quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 7,000 shares during the period. Finally, US Bancorp DE increased its stake in shares of Precision Drilling by 52.3% in the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 408 shares during the period. Institutional investors own 48.86% of the company’s stock.

Precision Drilling Stock Down 1.9%

Shares of Precision Drilling stock opened at $76.05 on Wednesday. Precision Drilling Corporation has a one year low of $52.53 and a one year high of $103.80. 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 stock’s 50-day moving average is $84.11 and its 200 day moving average is $87.90. The firm has a market cap of $977.22 million, a price-to-earnings ratio of -36.39 and a beta of 0.78.

Analyst Ratings Changes

A number of equities analysts recently commented on PDS shares. Wall Street Zen raised Precision Drilling from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research downgraded shares of Precision Drilling from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Weiss Ratings lowered shares of Precision Drilling from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. TD Securities restated a “hold” rating on shares of Precision Drilling in a research report on Friday, May 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Precision Drilling in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.33.

Precision Drilling Company 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.