Precision Drilling Co. (NYSE:PDS) Shares Purchased by Oberweis Asset Management Inc.

Oberweis Asset Management Inc. grew its stake in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,400 shares of the oil and gas company’s stock after acquiring an additional 8,700 shares during the quarter. Oberweis Asset Management Inc. owned about 0.50% of Precision Drilling worth $4,177,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Signaturefd LLC grew its holdings in Precision Drilling by 30.1% in the fourth quarter. Signaturefd LLC now owns 2,159 shares of the oil and gas company’s stock valued at $132,000 after purchasing an additional 499 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Precision Drilling by 1,741.8% in the 4th quarter. Quantbot Technologies LP now owns 2,247 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 2,125 shares during the last quarter. Blue Trust Inc. grew its stake 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 buying an additional 1,295 shares during the period. Barclays PLC increased its holdings in shares of Precision Drilling by 1,579.0% during the 3rd quarter. Barclays PLC now owns 3,358 shares of the oil and gas company’s stock worth $207,000 after buying an additional 3,158 shares during the last quarter. Finally, Guardian Partners Inc. purchased a new position in shares of Precision Drilling in the 4th quarter worth $217,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

Analysts Set New Price Targets

PDS has been the subject of a number of research reports. StockNews.com downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Raymond James lowered shares of Precision Drilling from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, April 9th.

Precision Drilling Stock Up 1.3 %

Shares of Precision Drilling stock opened at $43.11 on Friday. The company has a fifty day moving average price of $45.58 and a 200 day moving average price of $55.74. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. Precision Drilling Co. has a twelve month low of $36.20 and a twelve month high of $79.07. The stock has a market cap of $576.42 million, a price-to-earnings ratio of 8.01 and a beta of 1.53.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its earnings results on Wednesday, April 23rd. The oil and gas company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). The company had revenue of $345.41 million during the quarter, compared to analysts’ expectations of $508.06 million. Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. Equities research 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.