BMO Capital Markets Trims Precision Drilling (TSE:PD) Target Price to C$130.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective cut by investment analysts at BMO Capital Markets from C$140.00 to C$130.00 in a note issued to investors on Friday, BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 47.43% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Raymond James boosted their target price on shares of Precision Drilling from C$136.00 to C$143.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their price objective on Precision Drilling from C$122.00 to C$125.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. CIBC raised their price target on shares of Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. ATB Capital dropped their price target on Precision Drilling from C$123.00 to C$113.00 in a research report on Monday, September 23rd. Finally, TD Securities boosted their price target on shares of Precision Drilling from C$115.00 to C$140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$129.00.

Precision Drilling Stock Up 1.4 %

Shares of Precision Drilling stock traded up C$1.22 during trading on Friday, hitting C$88.18. 57,686 shares of the stock traded hands, compared to its average volume of 84,799. The stock’s fifty day simple moving average is C$92.89 and its 200 day simple moving average is C$94.71. Precision Drilling has a 52-week low of C$67.46 and a 52-week high of C$109.20. The firm has a market cap of C$1.24 billion, a P/E ratio of 5.50, a price-to-earnings-growth ratio of -3.24 and a beta of 2.80. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 earnings per share for the quarter, topping analysts’ consensus estimates of C($0.85) by C$2.29. The firm had revenue of C$429.21 million during the quarter, compared to analysts’ expectations of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. On average, equities analysts predict that Precision Drilling will post 11.3888131 earnings per share for the current fiscal year.

Insider Activity at Precision Drilling

In other news, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. In other Precision Drilling news, Director David Williams sold 3,500 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$100.01, for a total value of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total value of C$530,779.18. 2.12% of the stock is owned by corporate insiders.

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.