Precision Drilling Co. (TSE:PD) (NYSE:PDS)‘s stock had its “buy” rating restated by stock analysts at TD Securities in a note issued to investors on Tuesday. They presently have a C$6.00 target price on the stock. TD Securities’ price target points to a potential upside of 79.10% from the stock’s current price.
A number of other brokerages have also recently commented on PD. CIBC increased their target price on shares of Precision Drilling from C$8.00 to C$11.00 in a research report on Thursday, July 20th. Canaccord Genuity reduced their target price on shares of Precision Drilling from C$6.50 to C$4.75 in a research report on Tuesday, July 11th. BMO Capital Markets cut their price objective on shares of Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating for the company in a research report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. cut their price objective on shares of Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating for the company in a research report on Tuesday, August 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Precision Drilling has an average rating of “Buy” and an average target price of C$7.73.
Precision Drilling (TSE PD) traded up 0.90% during trading on Tuesday, hitting $3.35. 3,735,129 shares of the company were exchanged. Precision Drilling has a 12 month low of $3.01 and a 12 month high of $8.21. The company’s market capitalization is $982.35 million. The stock’s 50-day moving average is $3.48 and its 200-day moving average is $4.86.
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In related news, Director Brian James Gibson bought 35,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was bought at an average price of C$3.58 per share, with a total value of C$125,300.00. Also, Director Steven Wayne Krablin bought 10,000 shares of the stock in a transaction on Friday, August 18th. The shares were bought at an average cost of C$2.63 per share, with a total value of C$26,300.00. Over the last 90 days, insiders have purchased 55,000 shares of company stock valued at $182,900.
About Precision Drilling
Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
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