Precision Drilling (TSE:PD) Sets New 1-Year Low After Insider Selling

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price reached a new 52-week low during trading on Friday following insider selling activity. The company traded as low as C$76.20 and last traded at C$76.64, with a volume of 67101 shares traded. The stock had previously closed at C$77.80.

Specifically, Director Carey Thomas Ford sold 5,108 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 Precision Drilling 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$263,499.70.

Wall Street Analyst Weigh In

PD has been the subject of a number of research reports. 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. CIBC dropped their price objective on shares of Precision Drilling from C$125.00 to C$115.00 in a report on Friday, February 14th. ATB Capital lifted their target price on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. Raymond James decreased their target price on Precision Drilling from C$146.00 to C$141.00 in a research report on Friday, February 14th. Finally, TD Securities cut their price target 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$119.00.

Precision Drilling Stock Down 1.2 %

The company has a market cap of C$1.09 billion, a P/E ratio of 4.52, a P/E/G ratio of -3.24 and a beta of 2.76. The company has a 50-day simple moving average of C$86.24 and a 200 day simple moving average of C$88.50. 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 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.