Guardian Capital Advisors LP Has $898,000 Stock Holdings in Precision Drilling Co. (NYSE:PDS)

Posted by Defense World Staff on Jun 13th, 2023

Guardian Capital Advisors LP decreased its holdings in shares of Precision Drilling Co. (NYSE:PDS – Get Rating) (TSE:PD) by 25.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,217 shares of the oil and gas company’s stock after selling 3,815 shares during the period. Guardian Capital Advisors LP owned approximately 0.08% of Precision Drilling worth $898,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC acquired a new position in Precision Drilling during the fourth quarter worth $432,000. Two Sigma Investments LP raised its holdings in Precision Drilling by 30.9% during the fourth quarter. Two Sigma Investments LP now owns 125,102 shares of the oil and gas company’s stock worth $9,595,000 after buying an additional 29,559 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Precision Drilling by 144.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 215,797 shares of the oil and gas company’s stock worth $16,527,000 after buying an additional 127,691 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in Precision Drilling by 57.2% during the fourth quarter. Driehaus Capital Management LLC now owns 430,689 shares of the oil and gas company’s stock worth $32,989,000 after buying an additional 156,762 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Precision Drilling in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 45.22% of the company’s stock.

Precision Drilling Price Performance

PDS opened at $45.33 on Tuesday. The firm has a market cap of $621.93 million, a P/E ratio of 10.16 and a beta of 2.40. The firm has a 50-day moving average of $47.89 and a 200 day moving average of $60.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.80 and a current ratio of 1.93. Precision Drilling Co. has a fifty-two week low of $41.56 and a fifty-two week high of $87.36.

Precision Drilling (NYSE:PDS – Get Rating) (TSE:PD) last issued its earnings results on Wednesday, April 26th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $1.16. The firm had revenue of $413.13 million during the quarter, compared to analyst estimates of $386.28 million. Precision Drilling had a net margin of 5.65% and a return on equity of 8.17%. On average, research analysts expect that Precision Drilling Co. will post 10.17 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on PDS shares. TheStreet upgraded shares of Precision Drilling from a “d” rating to a “c” rating in a report on Wednesday, April 26th. BMO Capital Markets increased their target price on shares of Precision Drilling from C$115.00 to C$125.00 in a report on Thursday, April 27th. CIBC lowered their target price on shares of Precision Drilling from C$150.00 to C$135.00 in a report on Friday, April 14th. StockNews.com began coverage on shares of Precision Drilling in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Benchmark began coverage on shares of Precision Drilling in a research report on Thursday, February 16th. They set a “hold” rating for the company.

Precision Drilling Company Profile

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Precision Drilling Corp. engages in the provision of onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the following business segments: Contract Drilling Services and Completion and Production Services. The Contract Drilling Services segment includes rig and directional drilling, procurement and distribution of oilfield supplies, and the manufacture, sale, and repair of drilling equipment.