Precision Drilling (TSE:PD) Price Target Raised to C$100.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for Precision Drilling from C$89.00 to C$100.00, indicating a potential upside of 29.13% from the current price.
• Other analysts have varied opinions, with CIBC lowering its target to C$95.00 and Raymond James raising it to C$120.00, leading to an average price target of C$95.14 across recommendations.
• Precision Drilling's current market cap is C$1.10 billion, with shares trading at C$77.44, reflecting a volatile trading range between a one-year low of C$51.38 and a high of C$109.20.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its price target boosted by equities research analysts at Royal Bank Of Canada from C$89.00 to C$100.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 29.13% from the stock's current price.

Other research analysts have also issued research reports about the stock. CIBC dropped their price target on shares of Precision Drilling from C$115.00 to C$95.00 in a research report on Thursday, April 10th. ATB Capital dropped their price target on shares of 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. National Bankshares dropped their price target on shares of 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. Raymond James Financial raised their price objective on shares of Precision Drilling from C$119.00 to C$120.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, BMO Capital Markets cut their target price on shares of Precision Drilling from C$100.00 to C$90.00 in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$95.14.

Precision Drilling Stock Performance

Shares of PD traded down C$0.01 during trading hours on Thursday, reaching C$77.44. 67,764 shares of the company traded hands, compared to its average volume of 122,587. The stock's fifty day moving average is C$66.84 and its 200 day moving average is C$68.74. The stock has a market cap of C$1.10 billion, a P/E ratio of 4.56, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. Precision Drilling has a 1-year low of C$51.38 and a 1-year high of C$109.20.

About Precision Drilling

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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