Precision Drilling (TSE:PD) Sets New 52-Week Low – Here’s Why

Precision Drilling Co. (TSE:PD) (NYSE:PDS) hit a new 52-week low during trading on Wednesday . The company traded as low as C$63.16 and last traded at C$65.79, with a volume of 357052 shares changing hands. The stock had previously closed at C$66.77.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. ATB Capital upped their target price on Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. Royal Bank of Canada lowered their price objective on Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. Raymond James lowered their price objective on Precision Drilling from C$146.00 to C$141.00 in a research report on Friday, February 14th. CIBC lowered their price objective on Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. Finally, TD Securities lowered their price objective on Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$119.00.

Precision Drilling Stock Up 1.1 %

The stock has a market cap of C$943.31 million, a PE ratio of 3.90, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The business has a 50-day moving average price of C$84.10 and a 200-day moving average price of C$86.77.

Insider Activity

In related news, Senior Officer Veronica H. Foley sold 3,393 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total value of C$263,499.70. Also, Director Carey Thomas Ford sold 5,108 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$396,686.26. Insiders own 2.12% of the company’s stock.

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.