Precision Drilling (TSE:PD) Shares Cross Above Fifty Day Moving Average - Here's What Happened

Key Points

• Precision Drilling's shares have crossed above the 50-day moving average, trading at C$78.38 with a high of C$78.62.
• Analyst ratings for Precision Drilling show a consensus of "Moderate Buy" with a target price averaging C$95.14, following various changes from firms including TD Securities and Royal Bank of Canada.
• The company's market capitalization stands at C$1.03 billion, with significant financial ratios such as a price-to-earnings ratio of 11.01 and a debt-to-equity ratio of 51.98.

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$77.40 and traded as high as C$78.62. Precision Drilling shares last traded at C$78.38, with a volume of 90,655 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Securities boosted their target price on shares of Precision Drilling from C$71.00 to C$77.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Raymond James Financial increased their target price on Precision Drilling from C$119.00 to C$120.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. National Bankshares dropped their price target 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. Royal Bank Of Canada upped their price target on Precision Drilling from C$89.00 to C$100.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, ATB Capital lowered their price objective 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. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Precision Drilling has a consensus rating of "Moderate Buy" and an average target price of C$95.14.

Precision Drilling Stock Down 1.0%

The firm has a market capitalization of C$1.03 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of -3.24 and a beta of 1.74. The business has a 50 day moving average of C$77.40 and a 200 day moving average of C$68.18. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36.

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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