Precision Drilling (TSE:PD) Price Target Cut to C$4.75

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target cut by Raymond James from C$5.25 to C$4.75 in a report released on Friday, BayStreet.CA reports. They currently have a strong-buy rating on the stock.

Several other equities analysts have also recently commented on PD. Evercore ISI boosted their price objective on shares of Precision Drilling from C$4.00 to C$5.00 in a research note on Friday, April 26th. Evercore boosted their price objective on shares of Precision Drilling from C$4.00 to C$5.00 in a research note on Friday, April 26th. BMO Capital Markets set a $32.00 price objective on shares of Axalta Coating Systems and gave the company a hold rating in a research note on Friday, April 26th. AltaCorp Capital reaffirmed a sector perform rating on shares of STEP Energy Services in a research note on Thursday, June 20th. Finally, Citigroup set a $86.00 price objective on shares of Prologis and gave the company a buy rating in a research note on Thursday, June 6th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Precision Drilling currently has a consensus rating of Buy and an average price target of C$4.89.

TSE:PD traded down C$0.06 during mid-day trading on Friday, hitting C$2.12. 1,029,800 shares of the stock traded hands, compared to its average volume of 1,382,167. The firm’s 50-day moving average is C$2.35. The company has a market cap of $622.82 million and a P/E ratio of -2.47. Precision Drilling has a 12-month low of C$2.07 and a 12-month high of C$5.33. The company has a debt-to-equity ratio of 109.07, a quick ratio of 1.86 and a current ratio of 2.11.

In related news, Director Kevin A. Neveu purchased 30,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average price of C$2.44 per share, with a total value of C$73,260.00. Following the purchase, the director now directly owns 1,009,024 shares in the company, valued at C$2,464,036.61. Also, Director Carey Thomas Ford purchased 15,120 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of C$2.45 per share, with a total value of C$37,114.64. Following the purchase, the director now owns 147,240 shares in the company, valued at C$361,425.91.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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