ATB Capital Boosts Precision Drilling (TSE:PD) Price Target to C$126.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective increased by ATB Capital from C$125.00 to C$126.00 in a research note released on Monday, BayStreet.CA reports.

Other analysts have also issued research reports about the stock. Raymond James reduced their target price on shares of Precision Drilling from C$137.00 to C$132.00 and set a strong-buy rating for the company in a research note on Wednesday, February 7th. Stifel Nicolaus reduced their target price on shares of Precision Drilling from C$120.00 to C$115.00 and set a buy rating for the company in a research note on Wednesday, February 7th. TD Securities reduced their target price on shares of Precision Drilling from C$125.00 to C$115.00 and set a buy rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada reduced their price target on shares of Precision Drilling from C$125.00 to C$122.00 in a research report on Friday, January 12th. Finally, Evercore reduced their price target on shares of Precision Drilling from C$142.00 to C$139.00 and set an outperform rating for the company in a research report on Wednesday, February 7th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Precision Drilling currently has a consensus rating of Buy and a consensus price target of C$124.00.

Precision Drilling Stock Performance

Shares of PD stock opened at C$103.17 on Monday. The firm has a market capitalization of C$1.49 billion, a PE ratio of 5.28, a price-to-earnings-growth ratio of -3.24 and a beta of 2.90. The firm has a fifty day simple moving average of C$87.33 and a two-hundred day simple moving average of C$81.56. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 62.97. Precision Drilling has a 12 month low of C$56.42 and a 12 month high of C$104.90.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings results on Tuesday, February 6th. The company reported C$4.70 EPS for the quarter, beating analysts’ consensus estimates of C$2.82 by C$1.88. The business had revenue of C$506.87 million during the quarter, compared to analyst estimates of C$476.00 million. Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%. Analysts forecast that Precision Drilling will post 8.7760512 EPS for the current fiscal year.

Insider Buying and Selling at Precision Drilling

In other Precision Drilling news, Director Carey Thomas Ford sold 7,976 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total transaction of C$496,346.48. In other news, Senior Officer Veronica H. Foley sold 7,878 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of C$62.16, for a total value of C$489,696.48. Also, Director Carey Thomas Ford sold 7,976 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total transaction of C$496,346.48. Insiders have sold a total of 21,373 shares of company stock valued at $1,329,227 over the last three months. 1.32% of the stock is currently owned by 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.