Precision Drilling (PD) PT Raised to C$4.00 at Evercore ISI

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Precision Drilling (TSE:PD) (NYSE:PDS) had its target price lifted by equities researchers at Evercore ISI from C$3.00 to C$4.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. Evercore ISI’s price target would suggest a potential upside of 14.61% from the stock’s current price.

Several other research firms have also weighed in on PD. Citigroup upgraded shares of Precision Drilling from a “neutral” rating to a “buy” rating and increased their price target for the company from C$3.50 to C$5.00 in a research report on Monday, November 19th. Evercore increased their price target on shares of Precision Drilling from C$3.00 to C$4.00 in a research report on Tuesday. Canaccord Genuity reduced their price target on shares of Precision Drilling from C$4.75 to C$4.50 and set an “average” rating for the company in a research report on Thursday, November 22nd. BMO Capital Markets increased their price target on shares of Precision Drilling from C$4.00 to C$4.25 in a research report on Friday, February 15th. Finally, TD Securities increased their price target on shares of Precision Drilling from C$5.00 to C$5.50 and gave the company a “buy” rating in a research report on Friday, February 15th. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of C$5.00.

PD opened at C$3.49 on Tuesday. The stock has a market cap of $992.98 million and a P/E ratio of -3.48. The company has a debt-to-equity ratio of 109.53, a current ratio of 1.85 and a quick ratio of 1.66. Precision Drilling has a fifty-two week low of C$2.25 and a fifty-two week high of C$5.33.

In other Precision Drilling news, insider Carey Thomas Ford bought 17,750 shares of the business’s stock in a transaction on Wednesday, December 26th. The stock was purchased at an average price of C$2.25 per share, for a total transaction of C$39,924.72. Following the completion of the transaction, the insider now directly owns 100,906 shares of the company’s stock, valued at C$226,965.85. Also, insider Kevin A. Neveu bought 100,000 shares of the business’s stock in a transaction on Friday, December 21st. The shares were acquired at an average price of C$1.75 per share, with a total value of C$175,300.00. Following the transaction, the insider now directly owns 907,596 shares of the company’s stock, valued at C$1,591,015.79. Insiders have acquired 167,750 shares of company stock valued at $346,825 in the last quarter.

Precision Drilling Company Profile

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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Analyst Recommendations for Precision Drilling (TSE:PD)

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