PDT Partners LLC Grows Position in Precision Drilling Co. (NYSE:PDS)

PDT Partners LLC grew its position in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 182.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,264 shares of the oil and gas company’s stock after acquiring an additional 5,342 shares during the quarter. PDT Partners LLC owned 0.06% of Precision Drilling worth $509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PDS. Dimensional Fund Advisors LP boosted its holdings in Precision Drilling by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 201,625 shares of the oil and gas company’s stock worth $14,182,000 after purchasing an additional 28,947 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Precision Drilling by 31.1% in the second quarter. Point72 Asset Management L.P. now owns 57,949 shares of the oil and gas company’s stock valued at $4,073,000 after acquiring an additional 13,749 shares in the last quarter. Nicola Wealth Management LTD. increased its position in shares of Precision Drilling by 75.0% during the second quarter. Nicola Wealth Management LTD. now owns 28,000 shares of the oil and gas company’s stock valued at $1,970,000 after acquiring an additional 12,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in Precision Drilling during the third quarter worth $472,000. Finally, Versor Investments LP purchased a new position in Precision Drilling in the second quarter worth $527,000. Institutional investors own 48.86% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their target price on Precision Drilling from $95.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd.

Precision Drilling Stock Down 1.2 %

PDS opened at $62.41 on Tuesday. The company’s 50-day moving average price is $62.26 and its two-hundred day moving average price is $67.04. The company has a quick ratio of 1.41, a current ratio of 1.54 and a debt-to-equity ratio of 0.47. Precision Drilling Co. has a twelve month low of $49.67 and a twelve month high of $79.07. The stock has a market cap of $878.11 million, a price-to-earnings ratio of 5.34 and a beta of 1.97.

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.