Precision Drilling (TSE:PD) PT Raised to C$125.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price upped by equities research analysts at Stifel Nicolaus from C$115.00 to C$125.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 32.63% from the stock’s previous close.

A number of other equities analysts have also commented on PD. Royal Bank of Canada reduced their price objective on Precision Drilling from C$125.00 to C$122.00 in a research note on Friday, January 12th. Evercore lowered their price target on shares of Precision Drilling from C$142.00 to C$139.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. TD Securities decreased their price objective on Precision Drilling from C$125.00 to C$115.00 and set a “buy” rating for the company in a research note on Wednesday, February 7th. Piper Sandler Companies cut their target price on Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating on the stock in a research note on Monday, January 8th. Finally, CIBC upped their price target on Precision Drilling from C$100.00 to C$110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Precision Drilling has a consensus rating of “Buy” and a consensus price target of C$124.91.

Precision Drilling Price Performance

TSE:PD traded up C$0.22 during trading hours on Thursday, reaching C$94.25. The company had a trading volume of 18,419 shares, compared to its average volume of 81,235. The firm has a market capitalization of C$1.36 billion, a PE ratio of 4.83, a PEG ratio of -3.24 and a beta of 2.92. The stock has a 50-day moving average of C$88.78 and a two-hundred day moving average of C$81.72. Precision Drilling has a one year low of C$56.42 and a one year high of C$104.90. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 62.97.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings results on Tuesday, February 6th. The company reported C$4.70 EPS for the quarter, beating analysts’ consensus estimates of C$2.82 by C$1.88. The firm had revenue of C$506.87 million for the quarter, compared to analyst estimates of C$476.00 million. Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%. Analysts forecast that Precision Drilling will post 8.6166667 earnings per share for the current year.

Insider Transactions at Precision Drilling

In other news, Senior Officer Veronica H. Foley sold 7,878 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of C$62.16, for a total value of C$489,696.48. In other news, Senior Officer Veronica H. Foley sold 7,878 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of C$62.16, for a total value of C$489,696.48. Also, Director Carey Thomas Ford sold 7,976 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$496,346.48. Insiders have sold a total of 21,373 shares of company stock valued at $1,329,227 over the last 90 days. 1.32% of the stock is owned by company insiders.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.