Precision Drilling (PD) Given New C$4.75 Price Target at CIBC

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Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective raised by CIBC from C$4.25 to C$4.75 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. CIBC’s target price indicates a potential upside of 25.33% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Canaccord Genuity reduced their price target on Precision Drilling from C$4.50 to C$4.25 in a report on Wednesday, March 20th. Evercore ISI lifted their price target on Precision Drilling from C$3.00 to C$4.00 in a report on Tuesday, February 19th. Evercore lifted their price target on Precision Drilling from C$3.00 to C$4.00 in a report on Tuesday, February 19th. BMO Capital Markets lifted their price target on Precision Drilling from C$4.00 to C$4.25 in a report on Friday, February 15th. Finally, Cormark reduced their price target on Precision Drilling from C$6.75 to C$5.50 in a report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Precision Drilling has an average rating of “Buy” and an average price target of C$4.92.

Shares of Precision Drilling stock opened at C$3.79 on Tuesday. The stock has a market cap of $1.13 billion and a PE ratio of -3.78. The company has a debt-to-equity ratio of 109.53, a current ratio of 1.85 and a quick ratio of 1.45. Precision Drilling has a 52-week low of C$2.25 and a 52-week high of C$5.33.

In related news, insider Dan Alexandru Solomon sold 342,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of C$22.32, for a total value of C$7,633,440.00.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, 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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