Precision Drilling (TSE:PD) Given New C$89.00 Price Target at Royal Bank of Canada

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective decreased by equities researchers at Royal Bank of Canada from C$110.00 to C$89.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 47.08% from the stock’s current price.

PD has been the topic of several other research reports. Raymond James downgraded Precision Drilling from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from C$141.00 to C$124.00 in a report on Wednesday, April 9th. TD Securities cut their target price on shares of Precision Drilling from C$89.00 to C$69.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, CIBC cut their price target on shares of Precision Drilling from C$115.00 to C$95.00 in a research note on Thursday, April 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$102.14.

Precision Drilling Stock Performance

TSE:PD traded up C$2.04 during midday trading on Thursday, reaching C$60.51. 47,267 shares of the company traded hands, compared to its average volume of 150,484. Precision Drilling has a twelve month low of C$51.38 and a twelve month high of C$109.20. The firm has a market capitalization of C$861.06 million, a price-to-earnings ratio of 3.56, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. 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 company has a fifty day moving average price of C$67.23 and a 200 day moving average price of C$80.12.

Insider Transactions at Precision Drilling

In related news, Senior Officer Veronica H. Foley sold 3,393 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were 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 stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$396,686.26. Company insiders own 2.12% of the company’s stock.

About Precision Drilling

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.