Energy Opportunities Capital Management LLC Sells 984,416 Shares of Precision Drilling Corporation (PDS)

Energy Opportunities Capital Management LLC decreased its holdings in Precision Drilling Corporation (NYSE:PDS) (TSE:PD) by 57.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 715,247 shares of the oil and gas company’s stock after selling 984,416 shares during the period. Precision Drilling Corporation makes up approximately 1.3% of Energy Opportunities Capital Management LLC’s investment portfolio, making the stock its 25th largest position. Energy Opportunities Capital Management LLC owned about 0.24% of Precision Drilling Corporation worth $2,439,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Precision Drilling Corporation in the 1st quarter valued at about $102,000. Pacad Investment Ltd. raised its holdings in Precision Drilling Corporation by 81.2% in the 2nd quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 14,700 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Precision Drilling Corporation by 200.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 29,724 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 19,819 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Precision Drilling Corporation in the 2nd quarter valued at about $158,000. Finally, Winch Advisory Services LLC raised its holdings in Precision Drilling Corporation by 38.4% in the 2nd quarter. Winch Advisory Services LLC now owns 72,782 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 20,176 shares during the last quarter. Institutional investors own 61.43% of the company’s stock.

PDS has been the subject of a number of recent research reports. TD Securities initiated coverage on shares of Precision Drilling Corporation in a report on Monday, September 11th. They issued a “buy” rating for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $4.50 price objective (down previously from $6.00) on shares of Precision Drilling Corporation in a report on Wednesday, August 2nd. Cowen and Company reiterated a “buy” rating and issued a $5.00 price objective on shares of Precision Drilling Corporation in a report on Tuesday, July 11th. Morgan Stanley downgraded shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $9.00 to $4.50 in a report on Wednesday, June 21st. Finally, Zacks Investment Research upgraded shares of Precision Drilling Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Precision Drilling Corporation presently has a consensus rating of “Hold” and a consensus target price of $5.58.

Shares of Precision Drilling Corporation (NYSE:PDS) traded up 2.36% during mid-day trading on Friday, hitting $2.60. 743,728 shares of the stock were exchanged. The company has a 50-day moving average of $2.79 and a 200 day moving average of $3.39. Precision Drilling Corporation has a one year low of $2.38 and a one year high of $6.25. The stock’s market cap is $762.42 million.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last issued its quarterly earnings results on Monday, July 31st. The oil and gas company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. The firm had revenue of $275.52 million during the quarter, compared to analyst estimates of $271.33 million. During the same quarter in the prior year, the business posted ($0.20) earnings per share. Precision Drilling Corporation’s revenue for the quarter was up 68.0% compared to the same quarter last year. On average, equities analysts predict that Precision Drilling Corporation will post ($0.32) earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Energy Opportunities Capital Management LLC Sells 984,416 Shares of Precision Drilling Corporation (PDS)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another site, it was illegally stol

Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Precision Drilling Corporation in the 1st quarter valued at about $102,000. Pacad Investment Ltd. raised its holdings in Precision Drilling Corporation by 81.2% in the 2nd quarter. Pacad Investment Ltd. now owns 32,800 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 14,700 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Precision Drilling Corporation by 200.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 29,724 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 19,819 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Precision Drilling Corporation in the 2nd quarter valued at about $158,000. Finally, Winch Advisory Services LLC raised its holdings in Precision Drilling Corporation by 38.4% in the 2nd quarter. Winch Advisory Services LLC now owns 72,782 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 20,176 shares during the last quarter. Institutional investors own 61.43% of the company’s stock.

PDS has been the subject of a number of recent research reports. TD Securities initiated coverage on shares of Precision Drilling Corporation in a report on Monday, September 11th. They issued a “buy” rating for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $4.50 price objective (down previously from $6.00) on shares of Precision Drilling Corporation in a report on Wednesday, August 2nd. Cowen and Company reiterated a “buy” rating and issued a $5.00 price objective on shares of Precision Drilling Corporation in a report on Tuesday, July 11th. Morgan Stanley downgraded shares of Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $9.00 to $4.50 in a report on Wednesday, June 21st. Finally, Zacks Investment Research upgraded shares of Precision Drilling Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Precision Drilling Corporation presently has a consensus rating of “Hold” and a consensus target price of $5.58.

Shares of Precision Drilling Corporation (NYSE:PDS) traded up 2.36% during mid-day trading on Friday, hitting $2.60. 743,728 shares of the stock were exchanged. The company has a 50-day moving average of $2.79 and a 200 day moving average of $3.39. Precision Drilling Corporation has a one year low of $2.38 and a one year high of $6.25. The stock’s market cap is $762.42 million.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last issued its quarterly earnings results on Monday, July 31st. The oil and gas company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. The firm had revenue of $275.52 million during the quarter, compared to analyst estimates of $271.33 million. During the same quarter in the prior year, the business posted ($0.20) earnings per share. Precision Drilling Corporation’s revenue for the quarter was up 68.0% compared to the same quarter last year. On average, equities analysts predict that Precision Drilling Corporation will post ($0.32) earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Energy Opportunities Capital Management LLC Sells 984,416 Shares of Precision Drilling Corporation (PDS)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/13/energy-opportunities-capital-management-llc-sells-984416-shares-of-precision-drilling-corporation-pds.html.

Precision Drilling Corporation Company Profile

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

Institutional Ownership by Quarter for Precision Drilling Corporation (NYSE:PDS)

Receive News & Ratings for Precision Drilling Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply