Precision Drilling (TSE:PD) Share Price Passes Below 50 Day Moving Average – Time to Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$85.63 and traded as low as C$83.05. Precision Drilling shares last traded at C$85.10, with a volume of 67,429 shares.

Analysts Set New Price Targets

PD has been the topic of a number of recent research reports. BMO Capital Markets lowered their target price on Precision Drilling from C$140.00 to C$130.00 in a report on Friday, October 4th. TD Securities lowered their price objective on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. ATB Capital raised their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. Finally, Raymond James reduced their target price on shares of Precision Drilling from C$143.00 to C$142.00 in a report on Tuesday, October 15th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$127.11.

Precision Drilling Trading Up 2.2 %

The stock has a market capitalization of C$1.20 billion, a PE ratio of 5.31, a PEG ratio of -3.24 and a beta of 2.76. The stock’s 50 day moving average price is C$85.63 and its 200-day moving average price is C$90.64. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37.

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.