Precision Drilling (TSE:PD) Shares Cross Below 200 Day Moving Average – Time to Sell?

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$93.98 and traded as low as C$78.92. Precision Drilling shares last traded at C$79.50, with a volume of 108,316 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently commented on PD. ATB Capital dropped their target price on Precision Drilling from C$123.00 to C$113.00 in a report on Monday, September 23rd. CIBC raised their price objective on shares of Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Raymond James lowered their price target on shares of Precision Drilling from C$143.00 to C$142.00 in a report on Tuesday, October 15th. TD Securities cut their price objective on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Finally, BMO Capital Markets lowered their target price on shares of Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Precision Drilling currently has an average rating of “Buy” and an average target price of C$126.90.

Precision Drilling Stock Down 1.3 %

The company has a debt-to-equity ratio of 56.37, a current ratio of 1.51 and a quick ratio of 1.36. The business has a fifty day simple moving average of C$88.54 and a 200 day simple moving average of C$93.98. The firm has a market cap of C$1.12 billion, a price-to-earnings ratio of 4.96, a PEG ratio of -3.24 and a beta of 2.76.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its earnings results on Tuesday, July 30th. The company reported C$1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.85) by C$2.29. The company had revenue of C$429.21 million for the quarter, compared to analysts’ expectations of C$423.50 million. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%.

Insider Activity at Precision Drilling

In related news, Director David Williams sold 3,500 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. In other Precision Drilling news, Director David Williams sold 3,500 shares of Precision Drilling stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$100.01, for a total transaction of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. 2.12% of the stock is owned by corporate insiders.

About Precision Drilling

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.