Precision Drilling Co. (PD) Trading Down 3.3%

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price traded down 3.3% during mid-day trading on Tuesday . The company traded as low as C$3.87 and last traded at C$3.87. 1,678,850 shares were traded during mid-day trading, a decline of 13% from the average session volume of 1,928,363 shares. The stock had previously closed at C$4.00.

A number of equities analysts recently issued reports on the company. Deutsche Bank AG reiterated a “hold” rating and issued a C$4.00 target price on shares of Precision Drilling in a report on Tuesday, October 10th. CIBC increased their target price on Precision Drilling from C$8.00 to C$11.00 in a report on Thursday, July 20th. BMO Capital Markets cut their target price on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a report on Tuesday, August 1st. Royal Bank Of Canada cut their target price on Precision Drilling from C$7.00 to C$6.00 and set an “outperform” rating on the stock in a report on Friday, October 6th. Finally, Canaccord Genuity cut their target price on Precision Drilling from C$4.75 to C$4.25 in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of C$6.25.

In related news, Director Steven Wayne Krablin purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average cost of C$2.63 per share, with a total value of C$26,300.00.

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Precision Drilling Company Profile

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

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