Precision Drilling (NYSE:PDS) Trading 6.1% Higher – Here’s What Happened

Precision Drilling Co. (NYSE:PDS) (TSE:PD) shares traded up 6.1% on Tuesday . The company traded as high as $67.22 and last traded at $67.19. 44,165 shares changed hands during trading, a decline of 25% from the average session volume of 58,870 shares. The stock had previously closed at $63.33.

Precision Drilling Price Performance

The company has a 50-day moving average price of $61.58 and a 200-day moving average price of $65.32. The firm has a market capitalization of $895.15 million, a PE ratio of 5.42 and a beta of 1.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 1.41.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PDS. The Manufacturers Life Insurance Company raised its stake in shares of Precision Drilling by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,020 shares of the oil and gas company’s stock valued at $844,000 after acquiring an additional 150 shares during the period. US Bancorp DE increased its holdings in Precision Drilling by 56.6% in the 3rd quarter. US Bancorp DE now owns 603 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 218 shares in the last quarter. Signaturefd LLC raised its position in Precision Drilling by 19.9% in the third quarter. Signaturefd LLC now owns 1,660 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 276 shares during the period. Geode Capital Management LLC lifted its stake in shares of Precision Drilling by 6.6% during the third quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock worth $425,000 after purchasing an additional 424 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its position in shares of Precision Drilling by 22.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 3,359 shares of the oil and gas company’s stock worth $207,000 after buying an additional 606 shares during the period. 48.86% of the stock is currently owned by hedge funds and other institutional investors.

About Precision Drilling

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.