Guardian Capital Advisors LP Sells 1,568 Shares of Precision Drilling Co. (NYSE:PDS)

Guardian Capital Advisors LP decreased its stake in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 20.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,146 shares of the oil and gas company’s stock after selling 1,568 shares during the period. Guardian Capital Advisors LP’s holdings in Precision Drilling were worth $425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. National Bank of Canada FI raised its position in Precision Drilling by 29.0% in the first quarter. National Bank of Canada FI now owns 711,047 shares of the oil and gas company’s stock worth $50,886,000 after acquiring an additional 159,871 shares during the period. O Shaughnessy Asset Management LLC raised its position in Precision Drilling by 27.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 29,549 shares of the oil and gas company’s stock worth $1,989,000 after acquiring an additional 6,328 shares during the period. Aegis Financial Corp bought a new position in Precision Drilling in the first quarter worth approximately $6,124,000. Swiss National Bank raised its position in Precision Drilling by 6.3% in the first quarter. Swiss National Bank now owns 28,600 shares of the oil and gas company’s stock worth $1,923,000 after acquiring an additional 1,700 shares during the period. Finally, Hartree Partners LP raised its position in Precision Drilling by 113.3% in the first quarter. Hartree Partners LP now owns 80,000 shares of the oil and gas company’s stock worth $5,384,000 after acquiring an additional 42,500 shares during the period. Institutional investors own 48.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PDS. StockNews.com downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Piper Sandler decreased their price objective on shares of Precision Drilling from $101.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.50.

Precision Drilling Price Performance

Shares of PDS stock traded up $0.83 on Friday, hitting $73.07. 44,113 shares of the stock traded hands, compared to its average volume of 38,813. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 6.42 and a beta of 2.03. The firm has a 50 day simple moving average of $70.18 and a two-hundred day simple moving average of $66.83. Precision Drilling Co. has a 52 week low of $49.67 and a 52 week high of $78.13. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.71 and a quick ratio of 1.59.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.12). The company had revenue of $391.51 million for the quarter, compared to analysts’ expectations of $399.44 million. Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. As a group, equities research analysts predict that Precision Drilling Co. will post 6.03 earnings per share for the current fiscal year.

About Precision Drilling

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.