Precision Drilling Corp (PD) Receives Consensus Rating of “Buy” from Analysts

Shares of Precision Drilling Corp (TSE:PD) (NYSE:PDS) have received an average rating of “Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$4.88.

Several equities analysts have weighed in on the company. Evercore ISI increased their target price on Precision Drilling from C$3.00 to C$4.00 in a research note on Tuesday, February 19th. Canaccord Genuity cut their target price on Precision Drilling from C$4.50 to C$4.25 in a research note on Wednesday. Evercore increased their target price on Precision Drilling from C$3.00 to C$4.00 in a research note on Tuesday, February 19th. Raymond James set a C$5.00 target price on Precision Drilling and gave the company a “strong-buy” rating in a research note on Wednesday, February 27th. Finally, CIBC increased their target price on Precision Drilling from C$4.00 to C$4.25 in a research note on Tuesday, March 19th.

In related news, insider Carey Thomas Ford purchased 17,750 shares of the firm’s stock in a transaction on Wednesday, December 26th. The stock was purchased at an average cost of C$2.25 per share, for a total transaction of C$39,924.72. Following the completion of the purchase, the insider now directly owns 100,906 shares in the company, valued at C$226,965.85.

TSE:PD traded down C$0.12 during mid-day trading on Friday, hitting C$3.26. The company had a trading volume of 1,584,200 shares, compared to its average volume of 1,531,753. Precision Drilling has a fifty-two week low of C$2.25 and a fifty-two week high of C$5.33. The company has a current ratio of 1.85, a quick ratio of 1.45 and a debt-to-equity ratio of 109.53. The firm has a market capitalization of $957.73 million and a price-to-earnings ratio of -3.25.

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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