Geode Capital Management LLC lessened its position in Precision Drilling Corp (NYSE:PDS) (TSE:PD) by 72.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 18,987 shares of the oil and gas company’s stock after selling 48,777 shares during the quarter. Geode Capital Management LLC’s holdings in Precision Drilling were worth $32,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in PDS. Mackenzie Financial Corp increased its holdings in shares of Precision Drilling by 10.8% in the 4th quarter. Mackenzie Financial Corp now owns 10,121,690 shares of the oil and gas company’s stock worth $17,612,000 after acquiring an additional 985,422 shares during the period. AGF Investments Inc. increased its holdings in shares of Precision Drilling by 18.1% in the 4th quarter. AGF Investments Inc. now owns 5,796,991 shares of the oil and gas company’s stock worth $10,064,000 after acquiring an additional 886,800 shares during the period. Toronto Dominion Bank increased its holdings in shares of Precision Drilling by 84.4% in the 4th quarter. Toronto Dominion Bank now owns 615,531 shares of the oil and gas company’s stock worth $1,069,000 after acquiring an additional 281,749 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Precision Drilling in the 4th quarter worth about $462,000. Finally, Vanguard Group Inc increased its holdings in shares of Precision Drilling by 3.1% in the 3rd quarter. Vanguard Group Inc now owns 7,265,717 shares of the oil and gas company’s stock worth $25,139,000 after acquiring an additional 220,935 shares during the period. 46.18% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on PDS. BMO Capital Markets reaffirmed a “buy” rating on shares of Precision Drilling in a report on Friday, April 26th. ValuEngine raised shares of Precision Drilling from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research raised shares of Precision Drilling from a “sell” rating to a “hold” rating in a report on Saturday, February 16th. CIBC reaffirmed a “buy” rating on shares of Precision Drilling in a report on Tuesday, March 19th. Finally, Jefferies Financial Group cut shares of Precision Drilling from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $3.00 to $2.60 in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Precision Drilling has an average rating of “Buy” and a consensus price target of $3.92.
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Precision Drilling Company Profile
Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
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