Precision Drilling - PD Stock Forecast, Price & News

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates in two segments, Contract Drilling Services; and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry. This segment's services include land and turnkey drilling; and procurement and distribution of oilfield supplies, as well as manufacture and refurbishment of drilling and service rig equipment. As of December 31, 2021, it operated 227 land drilling rigs, including 109 in Canada; 105 in the United States; 6 in Kuwait; 4 in Saudi Arabia; 2 in the Kurdistan region of Iraq; and 1 in the country of Georgia. As of December 31, 2021, this segment also operated 47 AlphaTM rigs with commercial AlphaAutomation; 18 AlphaApps; 4 grid power capable rigs; and 60 natural gas or bi-fuel rigs. The Completion and Production Services segment provides service rigs for well completion, workover, abandonment, maintenance, and re-entry preparation services; wellsite accommodations; oilfield surface equipment rentals; and camp and catering services to oil and natural gas exploration and production companies. As of December 31, 2021, it operated 123 well completion and workover service rigs, including 113 in Canada and 10 in the United States; 1,900 oilfield rental items, including surface storage, small-flow wastewater treatment, power generation, and solids control equipment; 109 wellsite accommodation units; 943 drill camp beds; 822 base camp beds; and three kitchen diners in Canada. Precision Drilling Corporation was incorporated in 1951 and is headquartered in Calgary, Canada.

Precision Drilling Stock Down 0.6 %

Shares of PD traded down C$0.46 during trading hours on Tuesday, reaching C$80.97. 35,031 shares of the stock traded hands, compared to its average volume of 120,153. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 101.68. The stock has a fifty day simple moving average of C$84.20 and a 200 day simple moving average of C$82.40. Precision Drilling has a 52 week low of C$35.82 and a 52 week high of C$109.29. The company has a market cap of C$1.10 billion and a price-to-earnings ratio of -5.87.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PD. National Bankshares raised their price target on shares of Precision Drilling from C$80.00 to C$120.00 in a research note on Monday, April 25th. BMO Capital Markets raised their price target on shares of Precision Drilling from C$130.00 to C$140.00 in a report on Thursday, July 28th. CIBC lifted their target price on shares of Precision Drilling from C$115.00 to C$120.00 in a report on Tuesday, August 2nd. TD Securities lifted their target price on shares of Precision Drilling from C$130.00 to C$135.00 and gave the stock a "buy" rating in a report on Thursday, July 28th. Finally, ATB Capital lifted their price target on shares of Precision Drilling from C$130.00 to C$133.00 and gave the stock an "outperform" rating in a research report on Friday, April 29th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Precision Drilling presently has an average rating of "Moderate Buy" and a consensus price target of C$107.43.

Insiders Place Their Bets

In related news, Senior Officer Darren Ruhr sold 1,176 shares of the business's stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of C$106.72, for a total transaction of C$125,508.13. Following the completion of the transaction, the insider now owns 18,567 shares of the company's stock, valued at C$1,981,555.65.