ATB Capital Boosts Precision Drilling (TSE:PD) Price Target to C$126.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price hoisted by ATB Capital from C$125.00 to C$126.00 in a research note published on Monday morning, BayStreet.CA reports.

A number of other research firms also recently commented on PD. Evercore dropped their price objective on Precision Drilling from C$142.00 to C$139.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. Piper Sandler Companies decreased their target price on Precision Drilling from C$107.00 to C$100.00 and set an overweight rating for the company in a research report on Monday, January 8th. Royal Bank of Canada decreased their target price on Precision Drilling from C$125.00 to C$122.00 in a research report on Friday, January 12th. TD Securities decreased their target price on Precision Drilling from C$125.00 to C$115.00 and set a buy rating for the company in a research report on Wednesday, February 7th. Finally, CIBC upped their target price on Precision Drilling from C$100.00 to C$110.00 and gave the company an outperform rating in a research report on Wednesday, February 7th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of C$124.00.

Precision Drilling Price Performance

PD stock opened at C$103.17 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 62.97. The company has a market capitalization of C$1.49 billion, a PE ratio of 5.28, a P/E/G ratio of -3.24 and a beta of 2.90. Precision Drilling has a 12-month low of C$56.42 and a 12-month high of C$104.90. The business’s fifty day moving average price is C$87.33 and its 200 day moving average price is C$81.56.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Tuesday, February 6th. The company reported C$4.70 earnings per share for the quarter, topping the consensus estimate of C$2.82 by C$1.88. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. The company had revenue of C$506.87 million for the quarter, compared to the consensus estimate of C$476.00 million. On average, sell-side analysts anticipate that Precision Drilling will post 8.7760512 EPS for the current year.

Insider Activity at Precision Drilling

In other news, Senior Officer Veronica H. Foley sold 1,763 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total transaction of C$109,711.49. In related news, Senior Officer Veronica H. Foley sold 1,763 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$109,711.49. Also, Director Carey Thomas Ford sold 7,976 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$496,346.48. Insiders sold a total of 21,373 shares of company stock valued at $1,329,227 over the last three months. 1.32% of the stock is owned by insiders.

About Precision Drilling

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 through Contract Drilling Services and Completion and Production Services segments.