Brokerages Set Precision Drilling Co. (PD) PT at $8.05
Precision Drilling Co. (TSE:PD) (NYSE:PDS) has been assigned an average recommendation of “Buy” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$8.05.
Several equities research analysts have recently issued reports on the stock. CIBC increased their price objective on shares of Precision Drilling from C$8.00 to C$11.00 in a research report on Thursday, July 20th. Canaccord Genuity dropped their price objective on shares of Precision Drilling from C$6.50 to C$4.75 in a research report on Tuesday, July 11th. BMO Capital Markets decreased their target price on shares of Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating for the company in a research note on Tuesday, August 1st. Finally, Raymond James Financial, Inc. decreased their target price on shares of Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating for the company in a research note on Tuesday, August 22nd.
Precision Drilling (PD) traded down 4.49% during midday trading on Wednesday, hitting $3.19. 2,136,208 shares of the stock traded hands. The company’s 50-day moving average is $3.49 and its 200-day moving average is $4.91. The company’s market cap is $935.43 million. Precision Drilling has a one year low of $3.01 and a one year high of $8.21.
In related news, Director Brian James Gibson acquired 35,000 shares of Precision Drilling stock in a transaction on Tuesday, August 1st. The shares were purchased at an average cost of C$3.58 per share, for a total transaction of C$125,300.00. Also, Director Steven Wayne Krablin acquired 10,000 shares of Precision Drilling stock in a transaction on Friday, August 18th. The shares were bought at an average price of C$2.63 per share, for a total transaction of C$26,300.00. Insiders bought 55,000 shares of company stock valued at $182,900 over the last 90 days.
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Precision Drilling Company Profile
Precision Drilling Corporation provides oil and natural gas drilling and related services and products. 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.
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