Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Buys 150,800 Shares of Precision Drilling Corp. (PDS)

Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Buys 150,800 Shares of Precision Drilling Corp. (PDS)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Precision Drilling Corp. (NYSE:PDS) (TSE:PD) by 37.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 555,645 shares of the company’s stock after buying an additional 150,800 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Precision Drilling Corp. were worth $2,323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dalton Greiner Hartman Maher & Co. boosted its stake in Precision Drilling Corp. by 7.2% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 2,482,933 shares of the company’s stock worth $10,379,000 after buying an additional 166,955 shares during the period. Creative Planning boosted its stake in Precision Drilling Corp. by 326.0% in the third quarter. Creative Planning now owns 25,025 shares of the company’s stock worth $105,000 after buying an additional 19,150 shares during the period. Legal & General Group Plc boosted its stake in Precision Drilling Corp. by 21.0% in the second quarter. Legal & General Group Plc now owns 363,858 shares of the company’s stock worth $1,918,000 after buying an additional 63,079 shares during the period. AHL Partners LLP acquired a new stake in Precision Drilling Corp. during the second quarter worth approximately $306,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Precision Drilling Corp. by 488.5% in the second quarter. Cubist Systematic Strategies LLC now owns 62,537 shares of the company’s stock worth $331,000 after buying an additional 51,910 shares during the period. 72.65% of the stock is owned by institutional investors.

Shares of Precision Drilling Corp. (NYSE:PDS) traded down 4.75% during trading on Monday, hitting $4.61. The stock had a trading volume of 2,092,357 shares. Precision Drilling Corp. has a 12-month low of $2.43 and a 12-month high of $6.08. The stock’s 50 day moving average is $4.62 and its 200-day moving average is $4.57. The company’s market cap is $1.35 billion.

A number of analysts have recently commented on PDS shares. Jefferies Group upgraded Precision Drilling Corp. from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $4.00 to $4.50 in a research report on Tuesday, September 6th. DA Davidson started coverage on Precision Drilling Corp. in a research report on Thursday, September 15th. They issued a “buy” rating for the company. RBC Capital Markets restated an “outperform” rating and issued a $8.00 price objective on shares of Precision Drilling Corp. in a research report on Saturday, October 8th. Zacks Investment Research upgraded Precision Drilling Corp. from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research report on Thursday, October 20th. Finally, Scotiabank upgraded Precision Drilling Corp. from an “underperform” rating to a “sector perform” rating in a research report on Monday, October 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Precision Drilling Corp. currently has an average rating of “Buy” and a consensus target price of $5.66.

About Precision Drilling Corp.

Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. It operates through two segments: Contract Drilling Services, and Completion and Production Services.

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