Precision Drilling (TSE:PD) Shares Pass Below Two Hundred Day Moving Average - What's Next?

Shares of Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$79.23 and traded as low as C$58.56. Precision Drilling shares last traded at C$59.78, with a volume of 186,331 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Raymond James cut shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from C$141.00 to C$124.00 in a research note on Wednesday, April 9th. Royal Bank of Canada cut their target price on shares of Precision Drilling from C$110.00 to C$89.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. TD Securities cut their target price on shares of Precision Drilling from C$89.00 to C$69.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. BMO Capital Markets cut their target price on shares of Precision Drilling from C$100.00 to C$90.00 in a report on Thursday, April 17th. Finally, CIBC cut their target price on shares of Precision Drilling from C$115.00 to C$95.00 in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Precision Drilling has a consensus rating of "Moderate Buy" and a consensus target price of C$98.33.

Precision Drilling Trading Down 3.9 %

The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. The business's fifty day moving average is C$63.74 and its 200 day moving average is C$78.44. The firm has a market capitalization of C$820.79 million, a price-to-earnings ratio of 3.39, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76.

Insider Buying and Selling

In other Precision Drilling news, Director Carey Thomas Ford sold 5,108 shares of Precision Drilling stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of Precision Drilling stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$263,499.70. 2.12% of the stock is currently owned by company insiders.

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.