Precision Drilling Co. (NYSE:PDS) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its position in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,935 shares of the oil and gas company’s stock after selling 610 shares during the quarter. CIBC Asset Management Inc owned 0.12% of Precision Drilling worth $1,033,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PDS. Polar Asset Management Partners Inc. lifted its holdings in Precision Drilling by 111.1% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 68,600 shares of the oil and gas company’s stock worth $4,226,000 after buying an additional 36,100 shares in the last quarter. Mountain Lake Investment Management LLC lifted its holdings in Precision Drilling by 107.9% in the 4th quarter. Mountain Lake Investment Management LLC now owns 51,981 shares of the oil and gas company’s stock worth $3,174,000 after buying an additional 26,981 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Precision Drilling by 21.9% in the 3rd quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock worth $3,961,000 after buying an additional 11,331 shares in the last quarter. National Bank of Canada FI lifted its holdings in Precision Drilling by 1.4% in the 3rd quarter. National Bank of Canada FI now owns 726,284 shares of the oil and gas company’s stock worth $44,740,000 after buying an additional 10,318 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Precision Drilling in the 3rd quarter valued at about $472,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Price Performance

Shares of NYSE:PDS opened at $53.92 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.48. Precision Drilling Co. has a fifty-two week low of $53.31 and a fifty-two week high of $79.07. The firm has a 50-day simple moving average of $59.93 and a 200 day simple moving average of $62.77. The company has a market cap of $739.17 million, a PE ratio of 10.02 and a beta of 1.91.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Precision Drilling from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. TD Securities lowered shares of Precision Drilling from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd.

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.