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

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 18.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,800 shares of the oil and gas company’s stock after acquiring an additional 3,500 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Precision Drilling were worth $1,393,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. PCJ Investment Counsel Ltd. lifted its position in Precision Drilling by 11.9% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 16,360 shares of the oil and gas company’s stock valued at $999,000 after purchasing an additional 1,740 shares during the period. Versor Investments LP acquired a new position in Precision Drilling in the fourth quarter valued at approximately $257,000. Mountain Lake Investment Management LLC boosted its stake in Precision Drilling by 107.9% in the fourth quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock valued at $3,174,000 after acquiring an additional 26,981 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Precision Drilling by 10.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,477 shares of the oil and gas company’s stock valued at $518,000 after acquiring an additional 824 shares during the last quarter. Finally, Blue Trust Inc. raised its position 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 valued at $203,000 after acquiring an additional 1,295 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Stock Up 2.4 %

Shares of NYSE:PDS opened at $45.55 on Thursday. The company has a 50 day moving average price of $55.16 and a two-hundred day moving average price of $59.78. The company has a market capitalization of $624.40 million, a PE ratio of 8.47 and a beta of 2.05. Precision Drilling Co. has a 52 week low of $43.00 and a 52 week high of $79.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings data 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%. Analysts forecast that Precision Drilling Co. will post 7.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. TD Securities lowered Precision Drilling from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. StockNews.com upgraded Precision Drilling from a “hold” rating to a “buy” rating in a report on Sunday.

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.