Grantham Mayo Van Otterloo & Co. LLC Purchases 53,400 Shares of Precision Drilling Co. (NYSE:PDS)

Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 190.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,500 shares of the oil and gas company’s stock after purchasing an additional 53,400 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Precision Drilling were worth $4,982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its holdings in shares of Precision Drilling by 0.5% during the 4th quarter. National Bank of Canada FI now owns 729,626 shares of the oil and gas company’s stock valued at $44,673,000 after buying an additional 3,342 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Precision Drilling by 3,575.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 153,800 shares of the oil and gas company’s stock worth $9,395,000 after acquiring an additional 149,616 shares in the last quarter. Wellington Management Group LLP grew its holdings in Precision Drilling by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 135,908 shares of the oil and gas company’s stock worth $8,308,000 after purchasing an additional 2,200 shares during the period. Greatmark Investment Partners Inc. increased its stake in shares of Precision Drilling by 9.0% during the fourth quarter. Greatmark Investment Partners Inc. now owns 91,601 shares of the oil and gas company’s stock valued at $5,594,000 after purchasing an additional 7,540 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Precision Drilling by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 66,857 shares of the oil and gas company’s stock valued at $4,083,000 after purchasing an additional 3,743 shares during the last quarter. 48.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PDS has been the topic of a number of recent research reports. TD Securities cut Precision Drilling from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating in a research report on Monday, March 24th.

Precision Drilling Price Performance

NYSE PDS opened at $39.57 on Monday. Precision Drilling Co. has a one year low of $38.38 and a one year high of $79.07. The stock has a 50-day moving average of $50.56 and a 200 day moving average of $58.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.48. The company has a market capitalization of $536.11 million, a price-to-earnings ratio of 7.36 and a beta of 1.53.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Wednesday, February 12th. The oil and gas company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.64). Precision Drilling had a return on equity of 6.72% and a net margin of 5.87%. On average, sell-side analysts forecast that Precision Drilling Co. will post 7.1 EPS for the current year.

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.