US Bancorp DE Boosts Stock Holdings in Precision Drilling Co. (NYSE:PDS)

US Bancorp DE lifted its holdings in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 56.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 603 shares of the oil and gas company’s stock after acquiring an additional 218 shares during the quarter. US Bancorp DE’s holdings in Precision Drilling were worth $37,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. National Bank of Canada FI lifted its holdings in Precision Drilling by 29.0% during the first quarter. National Bank of Canada FI now owns 711,047 shares of the oil and gas company’s stock worth $50,886,000 after buying an additional 159,871 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Precision Drilling by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 201,625 shares of the oil and gas company’s stock valued at $14,182,000 after acquiring an additional 28,947 shares during the period. Point72 Asset Management L.P. raised its position in shares of Precision Drilling by 31.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 57,949 shares of the oil and gas company’s stock worth $4,073,000 after acquiring an additional 13,749 shares in the last quarter. Nicola Wealth Management LTD. lifted its stake in shares of Precision Drilling by 75.0% during the 2nd quarter. Nicola Wealth Management LTD. now owns 28,000 shares of the oil and gas company’s stock worth $1,970,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Versor Investments LP bought a new stake in Precision Drilling during the second quarter valued at about $527,000. 48.86% of the stock is currently owned by institutional investors.

Precision Drilling Stock Performance

Shares of PDS opened at $63.03 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.41 and a debt-to-equity ratio of 0.47. The firm has a market cap of $886.52 million, a PE ratio of 5.33 and a beta of 1.97. Precision Drilling Co. has a 12 month low of $49.67 and a 12 month high of $79.07. The stock has a fifty day moving average price of $62.40 and a 200-day moving average price of $67.56.

Analysts Set New Price Targets

A number of brokerages have commented on PDS. StockNews.com upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Piper Sandler lifted their price objective on shares of Precision Drilling from $95.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd.

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.