Precision Drilling (TSE:PD) Shares Pass Above Fifty Day Moving Average - Should You Sell?

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS's stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$60.47 and traded as high as C$70.60. Precision Drilling shares last traded at C$69.28, with a volume of 112,937 shares changing hands.

Analyst Upgrades and Downgrades

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

Precision Drilling Trading Up 2.1%

The firm's fifty day moving average price is C$60.47 and its 200-day moving average price is C$72.82. The company has a market cap of C$985.86 million, a price-to-earnings ratio of 4.08, a P/E/G 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.

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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