Precision Drilling (TSE:PD) PT Lowered to C$0.50

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Precision Drilling (TSE:PD) (NYSE:PDS) had its price target cut by analysts at Citigroup from C$0.80 to C$0.50 in a research note issued on Wednesday, BayStreet.CA reports. Citigroup‘s price objective would suggest a potential upside of 8.70% from the company’s previous close.

PD has been the topic of several other research reports. Evercore decreased their price objective on Precision Drilling from C$2.00 to C$1.50 in a report on Wednesday. AltaCorp Capital decreased their price objective on Precision Drilling from C$1.75 to C$1.10 in a report on Wednesday. Tudor Pickering restated a “buy” rating on shares of Precision Drilling in a report on Tuesday, January 7th. Royal Bank of Canada decreased their price objective on Precision Drilling from C$4.00 to C$1.50 in a report on Monday, March 16th. Finally, BMO Capital Markets lifted their target price on Precision Drilling from C$2.50 to C$3.00 in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$1.85.

PD stock opened at C$0.46 on Wednesday. Precision Drilling has a 52-week low of C$0.39 and a 52-week high of C$4.05. The stock’s fifty day simple moving average is C$1.30 and its 200-day simple moving average is C$1.55. The company has a quick ratio of 1.48, a current ratio of 1.93 and a debt-to-equity ratio of 97.85. The stock has a market capitalization of $112.75 million and a price-to-earnings ratio of 23.00.

In other news, Director Allen R. Hagerman bought 50,000 shares of Precision Drilling stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average price of C$0.58 per share, for a total transaction of C$29,000.00. Following the completion of the acquisition, the director now owns 74,277 shares of the company’s stock, valued at C$43,080.66. Insiders purchased 67,500 shares of company stock worth $40,835 in the last quarter.

Precision Drilling Company Profile

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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Analyst Recommendations for Precision Drilling (TSE:PD)

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