Toronto Dominion Bank Sells 5,297 Shares of Precision Drilling Co. (NYSE:PDS)

Toronto Dominion Bank lowered its position in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 34.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,257 shares of the oil and gas company’s stock after selling 5,297 shares during the period. Toronto Dominion Bank owned about 0.07% of Precision Drilling worth $721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. National Bank of Canada FI lifted its position in Precision Drilling by 29.0% during the first quarter. National Bank of Canada FI now owns 711,047 shares of the oil and gas company’s stock valued at $50,886,000 after acquiring an additional 159,871 shares during the last quarter. Aegis Financial Corp acquired a new stake in Precision Drilling during the 1st quarter worth about $6,124,000. Hartree Partners LP grew its stake in Precision Drilling by 113.3% during the 1st quarter. Hartree Partners LP now owns 80,000 shares of the oil and gas company’s stock valued at $5,384,000 after purchasing an additional 42,500 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Precision Drilling by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 201,625 shares of the oil and gas company’s stock valued at $14,182,000 after buying an additional 28,947 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Precision Drilling by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 86,114 shares of the oil and gas company’s stock worth $4,700,000 after buying an additional 17,214 shares during the period. 48.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on PDS. StockNews.com raised shares of Precision Drilling from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Piper Sandler lifted their target price on shares of Precision Drilling from $95.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd.

Precision Drilling Stock Down 0.7 %

PDS stock opened at $61.47 on Tuesday. Precision Drilling Co. has a 52 week low of $49.67 and a 52 week high of $79.07. The firm has a 50-day simple moving average of $68.43 and a 200-day simple moving average of $69.45. The company has a quick ratio of 1.39, a current ratio of 1.51 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $871.03 million, a P/E ratio of 5.40 and a beta of 1.97.

Precision Drilling (NYSE:PDS) (TSE:PD) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $2.06. The company had revenue of $429.20 million for the quarter, compared to analysts’ expectations of $310.13 million. Precision Drilling had a net margin of 11.68% and a return on equity of 9.26%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 EPS. Equities analysts forecast that Precision Drilling Co. will post 6.67 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.