Precision Drilling (TSE:PD) Shares Pass Above 50-Day Moving Average - Here's What Happened

Key Points

• Precision Drilling shares have surpassed their 50-day moving average, with the stock last trading at C$79.73.
• Several analyst reports have shifted target prices for Precision Drilling, with ratings varying from "outperform" to "hold," indicating a mix of opinions on the stock's potential.
• The company maintains a market capitalization of C$1.05 billion and has a P/E ratio of 11.20, reflecting its financial performance in the oil and gas services sector.

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$76.03 and traded as high as C$80.57. Precision Drilling shares last traded at C$79.73, with a volume of 94,943 shares.

Wall Street Analyst Weigh In

PD has been the topic of a number of recent analyst reports. 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. TD Securities upped their target price on Precision Drilling from C$71.00 to C$77.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Raymond James Financial upped their target price on Precision Drilling from C$119.00 to C$120.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. National Bankshares cut their target price 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. Finally, Royal Bank Of Canada upped their target price on Precision Drilling from C$89.00 to C$100.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$95.14.

Precision Drilling Price Performance

The company has a 50 day moving average of C$76.03 and a 200-day moving average of C$67.49. The stock has a market capitalization of C$1.05 billion, a P/E ratio of 11.20, a PEG ratio of -3.24 and a beta of 1.74. 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.

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