Precision Drilling Co. (PD) Receives Consensus Recommendation of “Buy” from Analysts
Precision Drilling Co. (TSE:PD) (NYSE:PDS) has been assigned an average rating of “Buy” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$8.18.
Several research analysts have weighed in on PD shares. Scotiabank reiterated a “sector perform” rating and issued a C$8.00 price target on shares of Precision Drilling in a report on Tuesday, April 25th. Raymond James Financial, Inc. reiterated a “market perform” rating and issued a C$7.40 price target on shares of Precision Drilling in a report on Tuesday, April 25th. Canaccord Genuity cut their price target on Precision Drilling from C$6.50 to C$4.75 in a report on Tuesday, July 11th. BMO Capital Markets cut their price target on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating for the company in a report on Tuesday, August 1st. Finally, CIBC boosted their price target on Precision Drilling from C$8.00 to C$11.00 in a report on Thursday, July 20th.
In related news, Director Brian James Gibson acquired 35,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was bought at an average cost of C$3.58 per share, with a total value of C$125,300.00.
Shares of Precision Drilling (PD) remained flat at $3.75 during mid-day trading on Friday. The stock had a trading volume of 2,726,963 shares. The company’s market capitalization is $1.10 billion. Precision Drilling has a 1-year low of $3.57 and a 1-year high of $8.21. The company has a 50-day moving average of $3.95 and a 200 day moving average of $5.47.
About Precision Drilling
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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