Cubist Systematic Strategies LLC increased its holdings in shares of Precision Drilling Corp (NYSE:PDS) (TSE:PD) by 125.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 215,138 shares of the oil and gas company’s stock after purchasing an additional 119,901 shares during the period. Cubist Systematic Strategies LLC owned 0.07% of Precision Drilling worth $671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of Precision Drilling by 44.6% during the second quarter. Franklin Resources Inc. now owns 44,803,597 shares of the oil and gas company’s stock valued at $153,112,000 after purchasing an additional 13,815,928 shares in the last quarter. FMR LLC boosted its stake in shares of Precision Drilling by 22.1% during the second quarter. FMR LLC now owns 16,603,054 shares of the oil and gas company’s stock valued at $56,719,000 after purchasing an additional 3,007,124 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Precision Drilling by 7.3% during the second quarter. Vanguard Group Inc. now owns 6,074,303 shares of the oil and gas company’s stock valued at $20,712,000 after purchasing an additional 413,573 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Precision Drilling by 2.3% during the third quarter. TD Asset Management Inc. now owns 5,892,703 shares of the oil and gas company’s stock valued at $18,284,000 after purchasing an additional 134,087 shares in the last quarter. Finally, AGF Investments Inc. boosted its stake in shares of Precision Drilling by 21.7% during the third quarter. AGF Investments Inc. now owns 1,871,291 shares of the oil and gas company’s stock valued at $5,819,000 after purchasing an additional 334,000 shares in the last quarter. Hedge funds and other institutional investors own 49.23% of the company’s stock.

A number of research firms have recently issued reports on PDS. JPMorgan Chase & Co. downgraded shares of Precision Drilling from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 12th. ValuEngine upgraded shares of Precision Drilling from a “strong sell” rating to a “sell” rating in a research note on Monday, October 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $6.00 target price (down from $7.00) on shares of Precision Drilling in a research note on Friday, October 6th. Piper Jaffray Companies upgraded shares of Precision Drilling from a “neutral” rating to an “overweight” rating and raised their target price for the company from $3.60 to $4.25 in a research note on Monday, September 18th. Finally, TD Securities began coverage on shares of Precision Drilling in a research note on Monday, September 11th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $5.04.

Shares of Precision Drilling Corp (NYSE PDS) opened at $2.81 on Monday. The firm has a market cap of $841.59, a P/E ratio of -9.37 and a beta of 1.74. Precision Drilling Corp has a one year low of $2.26 and a one year high of $6.14. The company has a quick ratio of 2.10, a current ratio of 2.22 and a debt-to-equity ratio of 0.96.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Friday, October 27th. The oil and gas company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The company had revenue of $314.50 million during the quarter, compared to the consensus estimate of $320.36 million. Precision Drilling had a negative net margin of 8.36% and a negative return on equity of 5.62%. Precision Drilling’s revenue was up 47.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) earnings per share. equities research analysts anticipate that Precision Drilling Corp will post -0.3 EPS for the current year.

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Precision Drilling Company Profile

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

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Institutional Ownership by Quarter for Precision Drilling (NYSE:PDS)

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