Precision Drilling (TSE:PD) Hits New 12-Month Low After Insider Selling

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price reached a new 52-week low on Friday after an insider sold shares in the company. The company traded as low as C$76.20 and last traded at C$76.64, with a volume of 67101 shares changing hands. The stock had previously closed at C$77.80.

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

Analyst Upgrades and Downgrades

PD has been the subject of a number of research analyst reports. TD Securities decreased their target price on Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating for the company in a research report on Friday, February 14th. CIBC decreased their price objective on Precision Drilling from C$125.00 to C$115.00 in a report on Friday, February 14th. ATB Capital increased their target price on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. Raymond James decreased their price target on shares of Precision Drilling from C$146.00 to C$141.00 in a research note on Friday, February 14th. Finally, Royal Bank of Canada lowered their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a report on Friday, February 14th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$119.00.

Precision Drilling Stock Down 1.3 %

The company has a market cap of C$1.09 billion, a P/E ratio of 4.52, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The stock has a fifty day moving average price of C$86.05 and a two-hundred day moving average price of C$88.25.

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.