Precision Drilling (TSE:PD) Given New C$133.00 Price Target at Raymond James Financial

Key Points

• Raymond James Financial raised its price target for Precision Drilling from C$132.00 to C$133.00, suggesting a potential upside of 58.52% from its previous close.
• Other brokerages have also adjusted their target prices, with TD Securities setting a target of C$80.00, while National Bankshares lowered theirs to C$100.00.
• The stock currently holds a "Moderate Buy" rating with an average target price of C$102.00, reflecting a mix of ratings from multiple investment analysts.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its price target hoisted by stock analysts at Raymond James Financial from C$132.00 to C$133.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price target would suggest a potential upside of 58.52% from the company's previous close.

Several other brokerages have also recently commented on PD. TD Securities raised their target price on Precision Drilling from C$77.00 to C$80.00 and gave the stock a "hold" rating in a research report on Thursday. National Bankshares reduced their target price on Precision Drilling from C$110.00 to C$100.00 and set a "sector perform" rating for the company in a research report on Thursday, July 3rd. Royal Bank Of Canada raised their target price on Precision Drilling from C$110.00 to C$117.00 and gave the stock an "outperform" rating in a research report on Friday. ATB Capital reduced their target price on Precision Drilling from C$87.00 to C$84.00 and set an "outperform" rating for the company in a research report on Wednesday, July 2nd. Finally, CIBC lifted their price objective on Precision Drilling from C$100.00 to C$110.00 in a research report on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$102.00.

Precision Drilling Stock Performance

Shares of PD traded up C$1.64 during mid-day trading on Friday, hitting C$83.90. The company's stock had a trading volume of 74,305 shares, compared to its average volume of 109,090. Precision Drilling has a one year low of C$51.38 and a one year high of C$96.91. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. The firm has a market capitalization of C$1.11 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of -3.24 and a beta of 1.60. The stock's 50-day moving average is C$78.57 and its two-hundred day moving average is C$69.74.

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.

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