Precision Drilling (TSE:PD) Price Target Cut to C$142.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target decreased by analysts at Raymond James from C$143.00 to C$142.00 in a research note issued on Tuesday, BayStreet.CA reports. Raymond James’ target price points to a potential upside of 70.22% from the stock’s current price.

Several other brokerages have also issued reports on PD. TD Securities lowered their target price on Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. CIBC raised their price objective on Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. ATB Capital reduced their target price on Precision Drilling from C$123.00 to C$113.00 in a report on Monday, September 23rd. Royal Bank of Canada boosted their price target on shares of Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets decreased their price objective on shares of Precision Drilling from C$140.00 to C$130.00 in a research report on Friday, October 4th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Precision Drilling has an average rating of “Buy” and a consensus price target of C$126.90.

Precision Drilling Stock Performance

TSE:PD opened at C$83.42 on Tuesday. The stock’s 50-day moving average is C$90.88 and its 200-day moving average is C$94.53. The stock has a market cap of C$1.18 billion, a P/E ratio of 5.16, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. Precision Drilling has a 1-year low of C$67.46 and a 1-year high of C$109.20. 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 earnings results 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 for the quarter, compared to analyst estimates of C$423.50 million. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%.

Insider Buying and Selling at Precision Drilling

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