Precision Drilling (TSE:PD) Stock Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Precision Drilling's stock price surpassed its 50-day moving average of C$69.50, reaching a high of C$76.34, indicating positive momentum in trading.
• Analysts have mixed views on Precision Drilling, with price targets ranging from C$84.00 to C$120.00, leading to an average rating of "Moderate Buy" with a consensus price target of C$95.14.
• The company's financial metrics show a debt-to-equity ratio of 51.98 and a market capitalization of C$1.07 billion, reflecting its significant presence in North American oil and gas services.

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS's share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$69.50 and traded as high as C$76.34. Precision Drilling shares last traded at C$75.42, with a volume of 44,710 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. BMO Capital Markets reduced their price objective on Precision Drilling from C$100.00 to C$90.00 in a research note on Thursday, April 17th. ATB Capital cut their target price on Precision Drilling from C$87.00 to C$84.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 2nd. National Bankshares cut their price objective on 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. TD Securities lifted their price target on Precision Drilling from C$71.00 to C$77.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada lifted their target price on Precision Drilling from C$89.00 to C$100.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$95.14.

Precision Drilling Price Performance

The stock's 50-day moving average price is C$70.25 and its 200 day moving average price is C$67.42. The firm has a market cap of C$1.06 billion, a price-to-earnings ratio of 4.38, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98.

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.