Brokerages Set Precision Drilling Co. (TSE:PD) Target Price at C$98.33

Shares of Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS have been assigned an average rating of "Moderate Buy" from the six brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$98.33.

PD has been the topic of several recent research reports. TD Securities reduced their price objective on Precision Drilling from C$89.00 to C$69.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Raymond James cut shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from C$141.00 to C$124.00 in a research note on Wednesday, April 9th. Royal Bank of Canada dropped their target price on shares of Precision Drilling from C$110.00 to C$89.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. BMO Capital Markets decreased their target price on Precision Drilling from C$100.00 to C$90.00 in a research report on Thursday, April 17th. Finally, CIBC reduced their price target on Precision Drilling from C$115.00 to C$95.00 in a research report on Thursday, April 10th.

Insider Transactions at Precision Drilling

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 3,393 shares of Precision Drilling stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$263,499.70. Also, Director Carey Thomas Ford sold 5,108 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total value of C$396,686.26. Insiders own 2.12% of the company's stock.

Precision Drilling Price Performance

PD traded up C$1.97 during midday trading on Friday, reaching C$59.65. 11,428 shares of the company's stock were exchanged, compared to its average volume of 145,212. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The business's 50-day moving average price is C$63.74 and its 200 day moving average price is C$78.44. Precision Drilling has a 1-year low of C$51.38 and a 1-year high of C$109.20. The stock has a market capitalization of C$848.82 million, a PE ratio of 3.51, a P/E/G ratio of -3.24 and a beta of 2.76.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.