Foundation Resource Management boosted its stake in shares of Precision Drilling Corp (NYSE:PDS) by 3.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 565,801 shares of the company’s stock after buying an additional 17,225 shares during the period. Foundation Resource Management’s holdings in Precision Drilling Corp were worth $2,229,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wilsey Asset Management raised its position in Precision Drilling Corp by 5.7% in the fourth quarter. Wilsey Asset Management now owns 779,674 shares of the company’s stock worth $3,071,000 after buying an additional 42,199 shares during the period. CIBC World Markets raised its position in Precision Drilling Corp by 7.9% in the fourth quarter. CIBC World Markets now owns 363,699 shares of the company’s stock worth $1,433,000 after buying an additional 26,569 shares during the period. Dalton Greiner Hartman Maher & Company raised its position in Precision Drilling Corp by 3.6% in the fourth quarter. Dalton Greiner Hartman Maher & Company now owns 2,356,107 shares of the company’s stock worth $9,283,000 after buying an additional 81,000 shares during the period. Finally, Acadian Asset Management bought a new position in Precision Drilling Corp during the fourth quarter worth $1,757,000.

Shares of Precision Drilling Corp (NYSE:PDS) opened at 3.42 on Friday. The stock’s 50 day moving average price is $3.47 and its 200-day moving average price is $4.20. The stock’s market capitalization is $1.00 billion. Precision Drilling Corp has a 1-year low of $2.43 and a 1-year high of $7.80.

PDS has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Precision Drilling Corp from a “buy” rating to a “hold” rating in a research report on Monday, October 26th. RBC Capital reiterated an “outperform” rating and issued a $7.50 price target (up previously from $7.00) on shares of Precision Drilling Corp in a research report on Friday, October 23rd. Simmons lowered Precision Drilling Corp from an “overweight” rating to a “neutral” rating in a research report on Monday, October 26th. Scotiabank reiterated a “sector perform” rating and issued a $6.00 price target on shares of Precision Drilling Corp in a research report on Saturday, October 24th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Precision Drilling Corp in a research report on Monday, October 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.01.

Precision Drilling Corporation (NYSE:PDS) is an oilfield services company. The Company provides contract drilling, well servicing and strategic support services to customers. It provides customers with access to a fleet of contract drilling rigs, directional drilling services, well service and snubbing rigs, coiled tubing services, camps, rental equipment, and water treatment units backed by a mix of technical support services. The Company provides the equipment, personnel and support services, which enables drill, complete and workover onshore wells for conventional and unconventional crude oil and natural gas exploration and production. The Company’s service lines include Drilling Rigs (Canada), Drilling Rigs (United States), Drilling Rigs (International), Directional Drilling (Canada and United States), Rig Builds and Repair Turnkey Drilling Services, Oilfield Supplies (Canada and United States) and Oilfield Equipment Rentals, among others.

12 Month Chart for NYSE:PDS

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