Precision Drilling (TSE:PD) PT Lowered to C$5.50 at Cormark

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target trimmed by Cormark from C$6.75 to C$5.50 in a research report released on Monday, February 4th.

A number of other equities analysts also recently issued reports on PD. GMP Securities increased their price target on Precision Drilling from C$7.00 to C$7.50 in a research report on Tuesday, October 9th. Raymond James dropped their price target on Precision Drilling from C$6.50 to C$5.75 in a research report on Monday, October 15th. Canaccord Genuity dropped their price target on Precision Drilling from C$5.25 to C$4.75 in a research report on Tuesday, October 16th. CIBC decreased their price objective on Precision Drilling from C$7.00 to C$6.25 in a research note on Tuesday, October 16th. Finally, Citigroup upgraded Precision Drilling from a neutral rating to a buy rating and upped their price objective for the stock from C$3.50 to C$5.00 in a research note on Monday, November 19th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Precision Drilling has a consensus rating of Buy and an average target price of C$5.00.

Shares of PD traded up C$0.08 during midday trading on Monday, reaching C$3.40. 1,664,100 shares of the stock were exchanged, compared to its average volume of 1,607,356. Precision Drilling has a 52 week low of C$2.25 and a 52 week high of C$5.33. The company has a current ratio of 1.85, a quick ratio of 1.66 and a debt-to-equity ratio of 109.53. The company has a market capitalization of $998.86 million and a price-to-earnings ratio of -3.39.

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

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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