Precision Drilling (TSE:PD) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$86.71 and traded as high as C$96.35. Precision Drilling shares last traded at C$95.07, with a volume of 244,276 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on PD shares. TD Securities decreased their target price on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. Raymond James decreased their target price on shares of Precision Drilling from C$143.00 to C$142.00 in a research note on Tuesday, October 15th. BMO Capital Markets decreased their target price on shares of Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Finally, ATB Capital upped their target price on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$127.11.

Precision Drilling Stock Up 4.7 %

The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37. The stock has a market capitalization of C$1.34 billion, a P/E ratio of 5.93, a P/E/G ratio of -3.24 and a beta of 2.76. The stock’s 50 day simple moving average is C$86.71 and its 200 day simple moving average is C$90.54.

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.