Mraz Amerine & Associates Inc. Has $279,000 Position in Precision Drilling Co. (NYSE:PDS)

Mraz Amerine & Associates Inc. lowered its position in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 5.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,140 shares of the oil and gas company’s stock after selling 271 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Precision Drilling were worth $279,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can acquired a new position in Precision Drilling in the first quarter worth approximately $27,000. Deutsche Bank AG acquired a new position in Precision Drilling during the fourth quarter valued at approximately $35,000. Barclays PLC grew its holdings in Precision Drilling by 150.0% during the fourth quarter. Barclays PLC now owns 500 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 300 shares during the last quarter. Wells Fargo & Company MN acquired a new position in Precision Drilling during the fourth quarter valued at approximately $38,000. Finally, Tower Research Capital LLC TRC grew its holdings in Precision Drilling by 599.3% during the third quarter. Tower Research Capital LLC TRC now owns 1,042 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 893 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price objective on shares of Precision Drilling from $100.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $115.17.

Precision Drilling Stock Performance

Shares of Precision Drilling stock traded down $0.03 during midday trading on Wednesday, hitting $68.23. The company had a trading volume of 52,573 shares, compared to its average volume of 84,056. The business’s 50 day simple moving average is $65.34 and its two-hundred day simple moving average is $60.21. The stock has a market cap of $987.97 million, a PE ratio of 5.01 and a beta of 2.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.40 and a quick ratio of 1.30. Precision Drilling Co. has a 1-year low of $41.56 and a 1-year high of $77.21.

Precision Drilling (NYSE:PDS) (TSE:PD) last issued its earnings results on Tuesday, February 6th. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $2.09 by $1.36. The firm had revenue of $372.34 million during the quarter, compared to analysts’ expectations of $355.78 million. Precision Drilling had a return on equity of 14.81% and a net margin of 14.87%. As a group, equities analysts predict that Precision Drilling Co. will post 6.82 EPS for the current fiscal year.

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.