Precision Drilling (TSE:PD) Reaches New 12-Month Low – What’s Next?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$62.31 and last traded at C$62.71, with a volume of 262577 shares changing hands. The stock had previously closed at C$68.85.

Analyst Ratings Changes

PD has been the subject of a number of recent research reports. 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. Royal Bank of Canada dropped their target price on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. Raymond James cut their price target on Precision Drilling from C$146.00 to C$141.00 in a report on Friday, February 14th. ATB Capital raised their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Finally, CIBC cut their target price on Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Precision Drilling presently has a consensus rating of “Buy” and a consensus price target of C$119.00.

Precision Drilling Price Performance

The firm has a fifty day moving average of C$73.73 and a 200 day moving average of C$82.57. The company has a market capitalization of C$878.14 million, a P/E ratio of 3.63, a P/E/G ratio of -3.24 and a beta of 2.76. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98.

Insider Transactions at Precision Drilling

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

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.