Precision Drilling (TSE:PD) Price Target Cut to C$142.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price decreased by Raymond James from C$143.00 to C$142.00 in a research note published on Tuesday morning, BayStreet.CA reports.

PD has been the subject of several other reports. Royal Bank of Canada upped their price objective 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 cut their price objective on Precision Drilling from C$123.00 to C$113.00 in a research report on Monday, September 23rd. CIBC upped their target price on Precision Drilling from C$130.00 to C$140.00 and gave the company an outperform rating in a report on Wednesday, July 31st. TD Securities reduced their price objective on shares of Precision Drilling from C$140.00 to C$120.00 and set a buy rating on the stock in a research report on Tuesday, October 8th. Finally, BMO Capital Markets decreased their price objective on shares of Precision Drilling from C$140.00 to C$130.00 in a report on Friday, October 4th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Precision Drilling currently has an average rating of Buy and an average price target of C$126.90.

Precision Drilling Trading Down 4.9 %

Shares of PD stock opened at C$82.72 on Tuesday. The business has a 50-day moving average of C$91.15 and a 200 day moving average of C$94.59. The company has a debt-to-equity ratio of 56.37, a current ratio of 1.51 and a quick ratio of 1.36. Precision Drilling has a 1-year low of C$67.46 and a 1-year high of C$109.20. The stock has a market capitalization of C$1.17 billion, a PE ratio of 5.16, a P/E/G ratio of -3.24 and a beta of 2.76.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its earnings results 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. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%. The firm had revenue of C$429.21 million for the quarter, compared to analysts’ expectations of C$423.50 million.

Insider Buying and Selling

In other news, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. In other news, Senior Officer Veronica H. Foley sold 5,335 shares of the firm’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 dated Monday, August 26th. The stock was sold at an average price of C$100.01, for a total transaction of C$350,035.00. 2.12% of the stock is 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.