Precision Drilling (TSE:PD) Stock Price Crosses Above Fifty Day Moving Average Following Insider Selling

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS shares crossed above its 50-day moving average during trading on Thursday following insider buying activity. The stock has a 50-day moving average of C$64.86 and traded as high as C$71.20. Precision Drilling shares last traded at C$70.73, with a volume of 192,913 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PD shares. Royal Bank Of Canada decreased their price objective on shares of 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. TD Securities reduced 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 research report on Wednesday, April 16th. CIBC reduced their target price on shares of Precision Drilling from C$115.00 to C$95.00 in a research report on Thursday, April 10th. National Bankshares reduced their target price on shares of 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, ATB Capital cut 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 report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$93.00.

Precision Drilling Price Performance

The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The stock's fifty day moving average is C$65.09 and its 200-day moving average is C$69.56. The stock has a market cap of C$983.30 million, a PE ratio of 4.07, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76.

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.