Precision Drilling (TSE:PD) Reaches New 1-Year Low – Here’s Why

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$62.31 and last traded at C$62.71, with a volume of 262577 shares changing hands. The stock had previously closed at C$68.85.

Analyst Ratings Changes

A number of analysts recently commented on PD shares. CIBC lowered their price objective on Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. Royal Bank of Canada dropped their target price on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. Raymond James dropped their price objective on Precision Drilling from C$146.00 to C$141.00 in a report on Friday, February 14th. ATB Capital upped their target price on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Finally, TD Securities dropped their price objective on Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Precision Drilling presently has a consensus rating of “Buy” and a consensus target price of C$119.00.

Precision Drilling Stock Down 8.9 %

The firm’s 50 day moving average price is C$72.44 and its two-hundred day moving average price is C$82.15. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The company has a market capitalization of C$800.30 million, a P/E ratio of 3.31, a PEG ratio of -3.24 and a beta of 2.76.

Insider Buying and Selling at Precision Drilling

In other news, Senior Officer Veronica H. Foley sold 3,393 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$263,499.70. Also, Director Carey Thomas Ford sold 5,108 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$396,686.26. Company insiders own 2.12% 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.