Foundation Resource Management Inc Lowers stake in Precision Drilling Corp (USA) (PDS)

Precision Drilling Corp (USA) (PDS) : Foundation Resource Management Inc reduced its stake in Precision Drilling Corp (USA) by 0.07% during the most recent quarter end. The investment management company now holds a total of 580,660 shares of Precision Drilling Corp (USA) which is valued at $2,514,258 after selling 400 shares in Precision Drilling Corp (USA) , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Precision Drilling Corp (USA) makes up approximately 0.45% of Foundation Resource Management Inc’s portfolio.

Precision Drilling Corp (USA) opened for trading at $4.13 and hit $4.3045 on the upside on Tuesday, eventually ending the session at $4.15, with a gain of 0.24% or 0.01 points. The heightened volatility saw the trading volume jump to 35,17,921 shares. Company has a market cap of $1,217 M.

On the company’s financial health, Precision Drilling Corp (USA) reported $-0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $-0.24. The company had revenue of $164.00 million for the quarter, compared to analysts expectations of $167.35 million. The company’s revenue was down -51.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.10 EPS.

Many Wall Street Analysts have commented on Precision Drilling Corp (USA). Precision Drilling Corp (USA) was Upgraded by Jefferies to ” Hold” on Sep 6, 2016.

Precision Drilling Corporation (Precision) 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.

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