CIBC Asset Management Inc Sells 238 Shares of Precision Drilling Co. (NYSE:PDS)

CIBC Asset Management Inc reduced its position in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 1.3% in the 3rd quarter, Holdings Channel reports. The firm owned 17,545 shares of the oil and gas company’s stock after selling 238 shares during the period. CIBC Asset Management Inc’s holdings in Precision Drilling were worth $1,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PDS. Blue Trust Inc. raised its holdings in shares of 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 buying an additional 504 shares in the last quarter. US Bancorp DE boosted its stake 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 in the last quarter. Signaturefd LLC grew its position in Precision Drilling by 32.6% in the second quarter. Signaturefd LLC now owns 1,384 shares of the oil and gas company’s stock valued at $97,000 after acquiring an additional 340 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Precision Drilling during the second quarter worth about $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Precision Drilling by 14.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,270 shares of the oil and gas company’s stock worth $300,000 after acquiring an additional 545 shares during the last quarter. 48.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. 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 upped their price target on shares of Precision Drilling from $95.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd.

Precision Drilling Stock Performance

NYSE:PDS opened at $65.14 on Thursday. The stock’s 50-day moving average is $62.46 and its 200-day moving average is $67.48. Precision Drilling Co. has a 1-year low of $49.67 and a 1-year 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 stock has a market cap of $915.87 million, a P/E ratio of 5.51 and a beta of 1.97.

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.