Precision Drilling Co. (TSE:PD) Receives Average Recommendation of “Buy” from Brokerages

Precision Drilling Co. (TSE:PD) (NYSE:PDS) has received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$126.90.

PD has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of Precision Drilling from C$140.00 to C$130.00 in a report on Friday, October 4th. CIBC lifted their target price on Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. TD Securities cut their price target on Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Royal Bank of Canada lifted their price objective on Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, ATB Capital cut their target price on Precision Drilling from C$123.00 to C$113.00 in a research report on Monday, September 23rd.

Insider Buying and Selling

In other news, Director David Williams sold 3,500 shares of the company’s stock in a transaction 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 news, Director David Williams sold 3,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was 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 on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total value of C$530,779.18. 2.12% of the stock is owned by corporate insiders.

Precision Drilling Stock Up 4.1 %

Shares of TSE:PD opened at C$89.21 on Friday. The company has a market capitalization of C$1.26 billion, a price-to-earnings ratio of 5.57, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company has a 50 day moving average of C$86.96 and a two-hundred day moving average of C$93.12. Precision Drilling has a 52-week low of C$67.46 and a 52-week high of C$109.20. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37.

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.