7,653 Shares in Precision Drilling Co. (NYSE:PDS) Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. purchased a new stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,653 shares of the oil and gas company’s stock, valued at approximately $472,000.

Several other institutional investors also recently made changes to their positions in PDS. The Manufacturers Life Insurance Company boosted its holdings in Precision Drilling by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 12,020 shares of the oil and gas company’s stock valued at $844,000 after acquiring an additional 150 shares during the last quarter. US Bancorp DE raised its holdings in Precision Drilling by 56.6% in the third quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 218 shares during the period. Signaturefd LLC lifted its position in Precision Drilling by 19.9% during the third quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 276 shares in the last quarter. Blue Trust Inc. boosted its position in Precision Drilling by 2,800.0% during the 2nd quarter. Blue Trust Inc. now owns 522 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 504 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Precision Drilling by 14.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,270 shares of the oil and gas company’s stock valued at $300,000 after purchasing an additional 545 shares in the last quarter. 48.86% of the stock is owned by hedge funds and other institutional investors.

Precision Drilling Price Performance

Shares of PDS stock opened at $62.79 on Wednesday. Precision Drilling Co. has a twelve month low of $49.67 and a twelve month high of $79.07. The company has a market capitalization of $882.83 million, a PE ratio of 5.31 and a beta of 1.97. 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 fifty day simple moving average of $62.40 and a 200-day simple moving average of $67.50.

Wall Street Analysts Forecast Growth

PDS has been the topic of a number of recent research reports. StockNews.com upgraded Precision Drilling from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Piper Sandler boosted their price target on 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 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.