Precision Drilling (TSE:PD) PT Lowered to C$130.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target lowered by BMO Capital Markets from C$140.00 to C$130.00 in a report published on Friday, BayStreet.CA reports.

A number of other analysts have also issued reports on PD. TD Securities raised their target price on shares of Precision Drilling from C$115.00 to C$140.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Royal Bank of Canada raised their target price on shares of Precision Drilling from C$122.00 to C$125.00 and gave the company an outperform rating in a research note on Thursday, August 1st. ATB Capital dropped their price target on shares of Precision Drilling from C$123.00 to C$113.00 in a research note on Monday, September 23rd. Raymond James lifted their price target on shares of Precision Drilling from C$136.00 to C$143.00 and gave the stock a strong-buy rating in a research note on Thursday, August 1st. Finally, CIBC lifted their price target on shares of Precision Drilling from C$130.00 to C$140.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of C$129.00.

Precision Drilling Trading Up 1.1 %

Shares of Precision Drilling stock opened at C$87.91 on Friday. The firm has a market capitalization of C$1.24 billion, a PE ratio of 5.50, a P/E/G ratio of -3.24 and a beta of 2.80. Precision Drilling has a twelve month low of C$67.46 and a twelve month high of C$109.20. The firm’s 50-day moving average price is C$92.65 and its 200 day moving average price is C$94.72. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.85) by C$2.29. The business had revenue of C$429.21 million during the quarter, compared to analysts’ expectations of C$423.50 million. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%. On average, sell-side analysts predict that Precision Drilling will post 11.3888131 EPS for the current fiscal year.

Insider Buying and Selling at Precision Drilling

In other Precision Drilling news, Director David Williams sold 3,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$100.01, for a total transaction of C$350,035.00. In related news, Senior Officer Veronica H. Foley sold 5,335 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. Also, Director David Williams sold 3,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. 2.12% of the stock is currently owned by company insiders.

About Precision Drilling

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.