Precision Drilling Co. (NYSE:PDS) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 51.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,300 shares of the oil and gas company’s stock after selling 20,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.14% of Precision Drilling worth $1,188,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Squarepoint Ops LLC purchased a new stake in shares of Precision Drilling during the second quarter worth about $210,000. Point72 Asset Management L.P. increased its stake in Precision Drilling by 31.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 57,949 shares of the oil and gas company’s stock valued at $4,073,000 after purchasing an additional 13,749 shares in the last quarter. Nicola Wealth Management LTD. raised its holdings in shares of Precision Drilling by 75.0% in the second quarter. Nicola Wealth Management LTD. now owns 28,000 shares of the oil and gas company’s stock worth $1,970,000 after buying an additional 12,000 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Precision Drilling by 19.9% during the third quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock worth $102,000 after buying an additional 276 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of Precision Drilling during the second quarter valued at $527,000. Institutional investors and hedge funds own 48.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PDS. StockNews.com upgraded Precision Drilling from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Piper Sandler lifted their target price on 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 Down 4.6 %

NYSE:PDS opened at $61.60 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 1.41. The company’s fifty day moving average price is $62.57 and its 200-day moving average price is $67.29. Precision Drilling Co. has a 1-year low of $49.67 and a 1-year high of $79.07. The firm has a market capitalization of $866.53 million, a P/E ratio of 5.21 and a beta of 1.97.

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.