Precision Drilling Co. (NYSE:PDS) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank reduced its position in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 34.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,257 shares of the oil and gas company’s stock after selling 5,297 shares during the quarter. Toronto Dominion Bank’s holdings in Precision Drilling were worth $721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in shares of Precision Drilling by 2,800.0% during the second quarter. Blue Trust Inc. now owns 522 shares of the oil and gas company’s stock worth $35,000 after buying an additional 504 shares during the period. Signaturefd LLC grew its holdings in shares of Precision Drilling by 32.6% during the second quarter. Signaturefd LLC now owns 1,384 shares of the oil and gas company’s stock worth $97,000 after purchasing an additional 340 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Precision Drilling in the 2nd quarter valued at about $210,000. Alberta Investment Management Corp purchased a new position in Precision Drilling during the 4th quarter worth approximately $229,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Precision Drilling by 14.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,270 shares of the oil and gas company’s stock worth $300,000 after buying an additional 545 shares during the period. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on PDS shares. StockNews.com upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Piper Sandler increased their target price on shares of Precision Drilling from $95.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd.

Precision Drilling Stock Performance

NYSE PDS opened at $61.47 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.52. Precision Drilling Co. has a 12-month low of $49.67 and a 12-month high of $79.07. The stock has a market capitalization of $871.03 million, a price-to-earnings ratio of 5.40 and a beta of 1.97. The business’s 50 day moving average is $68.43 and its two-hundred day moving average is $69.45.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $2.06. The company had revenue of $429.20 million during the quarter, compared to the consensus estimate of $310.13 million. Precision Drilling had a net margin of 11.68% and a return on equity of 9.26%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. Research analysts expect that Precision Drilling Co. will post 6.67 EPS for the current year.

Precision Drilling 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.