Precision Drilling (TSE:PD) Price Target Raised to C$130.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective raised by CIBC from C$110.00 to C$130.00 in a research note released on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages have also commented on PD. Royal Bank of Canada cut their price target on Precision Drilling from C$125.00 to C$122.00 in a research note on Friday, January 12th. Evercore decreased their price objective on shares of Precision Drilling from C$142.00 to C$139.00 and set an outperform rating for the company in a research report on Wednesday, February 7th. TD Securities lowered their price target 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. BMO Capital Markets upped their price objective on shares of Precision Drilling from C$125.00 to C$130.00 and gave the company an outperform rating in a report on Wednesday, February 7th. Finally, Raymond James lowered their target price on Precision Drilling from C$137.00 to C$132.00 and set a strong-buy rating on the stock in a research note on Wednesday, February 7th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Precision Drilling presently has an average rating of Buy and an average target price of C$126.73.

Precision Drilling Stock Performance

TSE PD opened at C$94.11 on Monday. Precision Drilling has a twelve month low of C$56.42 and a twelve month high of C$104.90. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 62.97. The firm has a market cap of C$1.36 billion, a price-to-earnings ratio of 4.82, a price-to-earnings-growth ratio of -3.24 and a beta of 2.92. The business has a 50-day moving average price of C$89.53 and a 200-day moving average price of C$82.06.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Tuesday, February 6th. The company reported C$4.70 EPS for the quarter, beating the consensus estimate of C$2.82 by C$1.88. The business had revenue of C$506.87 million during the quarter, compared to the consensus estimate of C$476.00 million. Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%. As a group, equities research analysts predict that Precision Drilling will post 8.6166667 EPS for the current fiscal year.

Insider Buying and Selling at Precision Drilling

In other news, Senior Officer Veronica H. Foley sold 7,878 shares of Precision Drilling stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total value of C$489,696.48. In other news, Senior Officer Veronica H. Foley sold 7,878 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total value of C$489,696.48. Also, Director Carey Thomas Ford sold 3,756 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of C$62.16, for a total value of C$233,472.96. Insiders have sold a total of 21,373 shares of company stock valued at $1,329,227 over the last ninety days. Corporate insiders own 1.32% of the company’s stock.

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.