Precision Drilling (TSE:PD) Reaches New 52-Week Low – Should You Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) reached a new 52-week low during trading on Thursday . The stock traded as low as C$72.50 and last traded at C$72.58, with a volume of 191837 shares. The stock had previously closed at C$74.25.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. ATB Capital boosted their price target on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Raymond James decreased their price target on Precision Drilling from C$146.00 to C$141.00 in a research note on Friday, February 14th. Royal Bank of Canada dropped their price objective on Precision Drilling from C$121.00 to C$110.00 in a research note on Friday, February 14th. CIBC decreased their target price on Precision Drilling from C$125.00 to C$115.00 in a research note on Friday, February 14th. Finally, TD Securities lowered their target price on Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating for the company in a report on Friday, February 14th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$119.00.

Precision Drilling Stock Performance

The firm has a 50 day moving average of C$85.51 and a two-hundred day moving average of C$87.82. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The stock has a market cap of C$1.03 billion, a PE ratio of 4.27, a PEG ratio of -3.24 and a beta of 2.76.

Insiders Place Their Bets

In related news, Director Carey Thomas Ford sold 5,108 shares of Precision Drilling stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$263,499.70. 2.12% of the stock is currently owned by corporate insiders.

Precision Drilling Company Profile

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.