Precision Drilling (TSE:PD) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$84.88 and traded as low as C$63.23. Precision Drilling shares last traded at C$63.59, with a volume of 98,400 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PD. ATB Capital lifted 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 dropped their price target on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. TD Securities reduced their price target on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Raymond James lowered their price objective on shares of Precision Drilling from C$146.00 to C$141.00 in a research report on Friday, February 14th. Finally, CIBC cut their target price on Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. One 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$119.00.

Precision Drilling Stock Down 0.3 %

The firm has a market cap of C$926.09 million, a PE ratio of 3.83, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The business has a 50-day moving average price of C$79.20 and a two-hundred day moving average price of C$84.69. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98.

Insider Buying and Selling at Precision Drilling

In other Precision Drilling news, Director Carey Thomas Ford sold 5,108 shares of the firm’s 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$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total value of C$263,499.70. 2.12% of the stock is owned by corporate 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.