Precision Drilling (TSE:PD) Price Target Raised to C$77.00

Key Points

• TD Securities raised its price target for Precision Drilling from C$71.00 to C$77.00, maintaining a "hold" rating, which indicates a potential downside of 0.57% from the current stock price.
• Several other analysts have adjusted their price targets, with ATB Capital lowering its target to C$84.00 and Raymond James increasing it to C$120.00, reflecting a mix of outlooks on the stock.
• The company has a market capitalization of C$1.10 billion and operates primarily in the North American oil and gas services sector, with a focus on contract drilling and related services.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its price target increased by research analysts at TD Securities from C$71.00 to C$77.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD Securities' price target points to a potential downside of 0.57% from the company's current price.

Several other equities research analysts have also commented on the stock. ATB Capital cut their price target on shares of Precision Drilling from C$87.00 to C$84.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 2nd. Raymond James Financial lifted their price target on shares of Precision Drilling from C$119.00 to C$120.00 and gave the stock an "outperform" rating in a research note on Thursday. BMO Capital Markets cut their price target on shares of Precision Drilling from C$100.00 to C$90.00 in a research note on Thursday, April 17th. CIBC cut their price target on shares of Precision Drilling from C$115.00 to C$95.00 in a research note on Thursday, April 10th. Finally, National Bankshares lowered their price objective on shares of Precision Drilling from C$110.00 to C$100.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$95.14.

Precision Drilling Stock Down 0.0%

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

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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