Wellington Management Group LLP Reduces Stock Holdings in Precision Drilling Co. (NYSE:PDS)

Wellington Management Group LLP lessened its stake in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 1.9% in the third quarter, Holdings Channel reports. The fund owned 133,708 shares of the oil and gas company’s stock after selling 2,606 shares during the quarter. Wellington Management Group LLP’s holdings in Precision Drilling were worth $8,243,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PDS. Blue Trust Inc. lifted its position 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 purchasing an additional 504 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 worth $300,000 after buying an additional 545 shares in the last quarter. Signaturefd LLC boosted its position in Precision Drilling by 32.6% in the 2nd quarter. Signaturefd LLC now owns 1,384 shares of the oil and gas company’s stock valued at $97,000 after buying an additional 340 shares during the last quarter. Nicola Wealth Management LTD. grew its stake in shares of Precision Drilling by 75.0% during the second quarter. Nicola Wealth Management LTD. now owns 28,000 shares of the oil and gas company’s stock valued at $1,970,000 after acquiring an additional 12,000 shares in the last quarter. Finally, Ritholtz Wealth Management increased its position in shares of Precision Drilling by 151.7% during the second quarter. Ritholtz Wealth Management now owns 10,661 shares of the oil and gas company’s stock worth $750,000 after acquiring an additional 6,425 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler raised their price objective on Precision Drilling from $95.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd.

Precision Drilling Stock Down 1.6 %

Shares of NYSE:PDS opened at $60.35 on Monday. Precision Drilling Co. has a 12-month low of $51.53 and a 12-month high of $79.07. 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 $849.12 million, a PE ratio of 5.10 and a beta of 1.96. The company has a fifty day simple moving average of $61.82 and a 200 day simple moving average of $66.31.

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.