Precision Drilling (TSE:PD) Price Target Increased to C$136.00 by Analysts at Raymond James

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective lifted by analysts at Raymond James from C$132.00 to C$136.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price objective suggests a potential upside of 37.93% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. BMO Capital Markets raised their price objective on Precision Drilling from C$125.00 to C$130.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Piper Sandler Companies lowered 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. ATB Capital lifted their target price on Precision Drilling from C$125.00 to C$126.00 in a report on Monday, April 8th. Evercore lowered their target price on Precision Drilling from C$142.00 to C$139.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, Stifel Nicolaus lifted their target price on Precision Drilling from C$115.00 to C$125.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$127.09.

Precision Drilling Trading Up 4.8 %

Shares of PD stock traded up C$4.49 during mid-day trading on Friday, reaching C$98.60. 88,555 shares of the stock traded hands, compared to its average volume of 86,275. The stock’s fifty day simple moving average is C$89.73 and its two-hundred day simple moving average is C$82.15. Precision Drilling has a 1-year low of C$56.42 and a 1-year high of C$104.90. The company has a market cap of C$1.43 billion, a price-to-earnings ratio of 5.04, a price-to-earnings-growth ratio of -3.24 and a beta of 2.92. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 62.97.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings results on Thursday, April 25th. The company reported C$2.53 EPS for the quarter, missing analysts’ consensus estimates of C$2.73 by C($0.20). Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%. The firm had revenue of C$527.79 million for the quarter, compared to analyst estimates of C$539.50 million. On average, research analysts anticipate that Precision Drilling will post 8.6166667 EPS for the current fiscal year.

Insider Activity at Precision Drilling

In related news, Director Carey Thomas Ford sold 3,756 shares of Precision Drilling stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total transaction of C$233,472.96. In related news, Senior Officer Veronica H. Foley sold 1,763 shares of Precision Drilling stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total transaction of C$109,711.49. Also, Director Carey Thomas Ford sold 3,756 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total value of C$233,472.96. Insiders have sold a total of 21,373 shares of company stock valued at $1,329,227 over the last 90 days. Insiders own 1.32% of the company’s stock.

Precision Drilling Company Profile

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.