CIBC Increases Precision Drilling (TSE:PD) Price Target to C$130.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price raised by CIBC from C$110.00 to C$130.00 in a research note published on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets lifted their price objective on shares of Precision Drilling from C$125.00 to C$130.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Royal Bank of Canada dropped their price target on Precision Drilling from C$125.00 to C$122.00 in a research note on Friday, January 12th. Stifel Nicolaus raised their price objective on Precision Drilling from C$115.00 to C$125.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Piper Sandler Companies decreased their target price on Precision Drilling from C$107.00 to C$100.00 and set an overweight rating for the company in a report on Monday, January 8th. Finally, Raymond James lowered their price target on shares of Precision Drilling from C$137.00 to C$132.00 and set a strong-buy rating on the stock in a report on Wednesday, February 7th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Precision Drilling has an average rating of Buy and a consensus target price of C$126.73.

Precision Drilling Trading Up 1.2 %

Shares of TSE:PD opened at C$94.11 on Monday. The business’s 50-day moving average is C$89.53 and its 200 day moving average is C$82.06. The company has a debt-to-equity ratio of 62.97, a current ratio of 1.40 and a quick ratio of 1.36. Precision Drilling has a 1 year low of C$56.42 and a 1 year high of C$104.90. The firm has a market capitalization of C$1.36 billion, a P/E ratio of 4.82, a P/E/G ratio of -3.24 and a beta of 2.92.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Tuesday, February 6th. The company reported C$4.70 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.82 by C$1.88. The firm had revenue of C$506.87 million for the quarter, compared to the consensus estimate of C$476.00 million. Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%. On average, research analysts predict that Precision Drilling will post 8.6166667 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Carey Thomas Ford sold 7,976 shares of Precision Drilling stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total transaction of C$496,346.48. In other news, Director Carey Thomas Ford sold 7,976 shares of Precision Drilling stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total transaction of C$496,346.48. Also, Senior Officer Veronica H. Foley sold 7,878 shares of Precision Drilling stock in a transaction dated Monday, February 12th. The stock was sold at an average price of C$62.16, for a total transaction of C$489,696.48. Over the last ninety days, insiders have sold 21,373 shares of company stock worth $1,329,227. Company insiders own 1.32% of the company’s stock.

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.