JPMorgan Chase & Co. Sells 3,319 Shares of Precision Drilling Co. (NYSE:PDS)

JPMorgan Chase & Co. reduced its holdings in Precision Drilling Co. (NYSE:PDS) (TSE:PD) by 18.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,969 shares of the oil and gas company’s stock after selling 3,319 shares during the quarter. JPMorgan Chase & Co.’s holdings in Precision Drilling were worth $923,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Precision Drilling by 6.6% in the third quarter. Geode Capital Management LLC now owns 6,867 shares of the oil and gas company’s stock valued at $425,000 after purchasing an additional 424 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Precision Drilling by 21.9% during the third quarter. Franklin Resources Inc. now owns 63,114 shares of the oil and gas company’s stock worth $3,961,000 after acquiring an additional 11,331 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Precision Drilling in the 2nd quarter worth about $210,000. Point72 Asset Management L.P. boosted 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 during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Precision Drilling by 1.4% in the third quarter. National Bank of Canada FI now owns 726,284 shares of the oil and gas company’s stock worth $44,740,000 after purchasing an additional 10,318 shares during the last quarter. Institutional investors and hedge funds own 48.86% of the company’s stock.

Precision Drilling Stock Down 0.7 %

PDS opened at $63.24 on Friday. The firm has a market capitalization of $871.49 million, a P/E ratio of 5.35 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. The company’s 50-day moving average is $62.11 and its 200 day moving average is $64.92. Precision Drilling Co. has a fifty-two week low of $55.33 and a fifty-two week high of $79.07.

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.