Precision Drilling (TSE:PD) Sets New 52-Week Low – What’s Next?

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$76.50 and last traded at C$79.09, with a volume of 57998 shares changing hands. The stock had previously closed at C$80.35.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PD shares. ATB Capital upped their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Royal Bank of Canada reduced their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a research note on Friday. Raymond James reduced their price objective on shares of Precision Drilling from C$146.00 to C$141.00 in a research note on Friday. CIBC reduced their price objective on shares of Precision Drilling from C$125.00 to C$115.00 in a research note on Friday. Finally, TD Securities reduced their price objective on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a research note on Friday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Precision Drilling currently has a consensus rating of “Buy” and a consensus price target of C$119.00.

Precision Drilling Stock Performance

The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. The company has a market cap of C$1.10 billion, a PE ratio of 4.56, a P/E/G ratio of -3.24 and a beta of 2.76. The stock’s 50 day simple moving average is C$86.94 and its two-hundred day simple moving average is C$89.07.

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.