Connor Clark & Lunn Investment Management Ltd. Buys 3,500 Shares of Precision Drilling Co. (NYSE:PDS)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 18.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,800 shares of the oil and gas company’s stock after acquiring an additional 3,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Precision Drilling worth $1,393,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Precision Drilling by 64.7% during the 4th quarter. Blue Trust Inc. now owns 3,298 shares of the oil and gas company’s stock worth $203,000 after acquiring an additional 1,295 shares during the period. Barclays PLC boosted its holdings in Precision Drilling by 1,579.0% during the third quarter. Barclays PLC now owns 3,358 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 3,158 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in Precision Drilling by 22.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 606 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new position in shares of Precision Drilling in the 3rd quarter worth approximately $237,000. Finally, Versor Investments LP bought a new position in shares of Precision Drilling during the 4th quarter worth approximately $257,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating in a research report on Sunday.

Precision Drilling Stock Up 2.4 %

NYSE PDS opened at $45.55 on Thursday. The stock’s 50 day simple moving average is $55.16 and its 200 day simple moving average is $59.78. Precision Drilling Co. has a one year low of $43.00 and a one year high of $79.07. The firm has a market cap of $624.40 million, a PE ratio of 8.47 and a beta of 2.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 1.35.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.64). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. As a group, sell-side analysts forecast that Precision Drilling Co. will post 7.1 earnings per share for the current fiscal year.

Precision Drilling Company 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.