Precision Drilling (TSE:PD) Hits New 1-Year Low – Here’s What Happened

Precision Drilling Co. (TSE:PD) (NYSE:PDS) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$62.49 and last traded at C$63.46, with a volume of 179521 shares traded. The stock had previously closed at C$66.64.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PD. Raymond James reduced their price target on shares of Precision Drilling from C$146.00 to C$141.00 in a research report on Friday, February 14th. Royal Bank of Canada reduced their price target on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. TD Securities reduced their price target on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating for the company in a research report on Friday, February 14th. CIBC reduced their price target on shares of Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. Finally, ATB Capital increased their price target on shares of Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given 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$119.00.

Precision Drilling Price Performance

The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The stock has a market capitalization of C$909.73 million, a price-to-earnings ratio of 3.76, a PEG ratio of -3.24 and a beta of 2.76. The stock’s 50 day simple moving average is C$82.01 and its 200-day simple moving average is C$85.76.

Insider Transactions at Precision Drilling

In related news, Director Carey Thomas Ford sold 5,108 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$263,499.70. 2.12% of the stock is owned by corporate insiders.

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.