Precision Drilling (TSE:PD) Shares Pass Above 50 Day Moving Average - Time to Sell?

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS's stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$61.37 and traded as high as C$63.93. Precision Drilling shares last traded at C$63.43, with a volume of 69,469 shares trading hands.

Analyst Upgrades and Downgrades

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

Precision Drilling Stock Performance

The company has a 50-day moving average of C$61.14 and a 200-day moving average of C$76.28. 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 company has a market cap of C$863.20 million, a PE ratio of 3.57, a PEG ratio of -3.24 and a beta of 2.76.

Insider Activity

In other Precision Drilling news, Director Carey Thomas Ford sold 5,108 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was 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 the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$263,499.70. Insiders own 2.12% of the company's stock.

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.