TD Securities Issues Pessimistic Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective decreased by equities researchers at TD Securities from C$89.00 to C$69.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ price target would indicate a potential upside of 17.23% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Raymond James cut shares of Precision Drilling from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from C$141.00 to C$124.00 in a research report on Wednesday, April 9th. Royal Bank of Canada decreased their price target on Precision Drilling from C$121.00 to C$110.00 in a report on Friday, February 14th. Finally, CIBC dropped their price objective on Precision Drilling from C$115.00 to C$95.00 in a research note on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Precision Drilling currently has an average rating of “Moderate Buy” and a consensus target price of C$110.86.

Precision Drilling Trading Up 0.2 %

PD stock traded up C$0.11 during trading on Wednesday, hitting C$58.86. The company had a trading volume of 63,990 shares, compared to its average volume of 151,190. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. Precision Drilling has a one year low of C$51.38 and a one year high of C$109.20. The business has a 50-day moving average of C$67.67 and a 200-day moving average of C$80.26. The stock has a market cap of C$837.58 million, a PE ratio of 3.46, a PEG ratio of -3.24 and a beta of 2.76.

Insider Buying and Selling at Precision Drilling

In related news, Senior Officer Veronica H. Foley sold 3,393 shares of the 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. Also, Director Carey Thomas Ford sold 5,108 shares of the business’s stock in a transaction 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. Insiders own 2.12% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.