Precision Drilling (TSE:PD) Given New C$4.50 Price Target at Evercore

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target lowered by equities researchers at Evercore from C$5.00 to C$4.50 in a research report issued on Monday, BayStreet.CA reports. Evercore’s price objective suggests a potential upside of 109.30% from the company’s current price.

Several other brokerages have also issued reports on PD. National Bank Financial reissued an “outperform spec overweight” rating on shares of Integra Resources in a report on Thursday, April 25th. TD Securities decreased their price target on shares of Snc-Lavalin Group from C$33.00 to C$32.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Citigroup set a $86.00 price target on shares of Prologis and gave the stock a “buy” rating in a research note on Thursday, June 6th. Evercore ISI raised their target price on shares of Precision Drilling from C$4.00 to C$5.00 in a research note on Friday, April 26th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $7.50 target price on shares of in a research note on Tuesday, July 9th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of C$4.84.

TSE:PD traded up C$0.03 during trading hours on Monday, hitting C$2.15. 699,552 shares of the company traded hands, compared to its average volume of 1,376,522. The company has a market capitalization of $621.35 million and a PE ratio of -2.80. Precision Drilling has a twelve month low of C$2.07 and a twelve month high of C$5.33. The stock’s 50-day moving average price is C$2.35. The company has a debt-to-equity ratio of 102.02, a current ratio of 1.83 and a quick ratio of 1.62.

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

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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