Brokerages Set Precision Drilling Corp (TSE:PD) Price Target at C$3.89
Precision Drilling Corp (TSE:PD) (NYSE:PDS) has earned an average recommendation of “Buy” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$3.89.
PD has been the topic of a number of analyst reports. Evercore cut their price target on shares of Precision Drilling from C$5.00 to C$4.50 in a research report on Monday, July 29th. TD Securities upgraded shares of Precision Drilling from a “buy” rating to an “action list buy” rating and cut their price target for the company from C$5.00 to C$4.50 in a research report on Wednesday, September 4th. Raymond James set a C$4.75 price target on shares of Precision Drilling and gave the company a “strong-buy” rating in a research report on Tuesday, August 20th. CIBC cut their price target on shares of Precision Drilling from C$4.75 to C$4.50 in a research report on Thursday, July 18th. Finally, Citigroup downgraded shares of Precision Drilling from a “buy” rating to a “neutral” rating and cut their price target for the company from C$2.50 to C$1.90 in a research report on Tuesday, October 1st.
Shares of TSE:PD traded up C$0.01 during mid-day trading on Thursday, reaching C$1.38. The stock had a trading volume of 1,624,800 shares, compared to its average volume of 1,528,676. The firm has a market cap of $405.42 million and a PE ratio of -1.86. The firm has a 50 day simple moving average of C$1.64 and a two-hundred day simple moving average of C$2.40. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 102.02. Precision Drilling has a twelve month low of C$1.33 and a twelve month high of C$4.18.
In related news, Director Kevin A. Neveu bought 35,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of C$1.43 per share, for a total transaction of C$50,015.00. Following the acquisition, the director now owns 1,055,966 shares of the company’s stock, valued at approximately C$1,508,975.41.
Precision Drilling Company Profile
Precision Drilling Corporation, an oilfield services company, 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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