Precision Drilling (TSE:PD) Given New C$1.25 Price Target at Royal Bank of Canada

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Precision Drilling (TSE:PD) (NYSE:PDS) had its price target lowered by investment analysts at Royal Bank of Canada from C$1.50 to C$1.25 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 171.74% from the stock’s current price.

PD has been the subject of several other research reports. Canaccord Genuity downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$3.00 to C$1.00 in a report on Tuesday, March 10th. National Bank Financial reduced their target price on shares of Precision Drilling from C$2.50 to C$1.50 and set an “outperform” rating for the company in a report on Tuesday. Raymond James reduced their target price on shares of Precision Drilling from C$3.25 to C$1.15 and set an “outperform” rating for the company in a report on Wednesday, March 18th. Evercore reduced their target price on shares of Precision Drilling from C$2.00 to C$1.50 in a report on Wednesday. Finally, Tudor Pickering & Holt reaffirmed a “hold” rating on shares of Precision Drilling in a report on Wednesday. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Precision Drilling has a consensus rating of “Buy” and an average target price of C$1.85.

Shares of PD stock opened at C$0.46 on Wednesday. The company has a market capitalization of $112.75 million and a price-to-earnings ratio of 23.00. The company has a debt-to-equity ratio of 97.85, a quick ratio of 1.48 and a current ratio of 1.93. The company has a 50-day simple moving average of C$1.30 and a 200 day simple moving average of C$1.55. Precision Drilling has a 52 week low of C$0.39 and a 52 week high of C$4.05.

In other Precision Drilling news, Director Allen R. Hagerman acquired 50,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of C$0.58 per share, for a total transaction of C$29,000.00. Following the purchase, the director now directly owns 74,277 shares of the company’s stock, valued at C$43,080.66. Insiders acquired a total of 67,500 shares of company stock valued at $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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