Yes it is, and with the pet slot equips I can easily get well over 300+ extra damage towards my Coursing/Snatching/Retrieve.
Personally what I do for overall pet damage performance is to have high level evasion boots in the defense slots. With good evasion pets dodge a majority of bosses knock backs and stuns, thus allowing the pet to not mess up on rush dog commands or die as easily. Pets will always die to magic so not much can be done for that except to mount it and manually dodge them yourself. If you notice pets already have an abnormally high evasion rate on their own.
