Precision Drilling Corporation Price Target Increased to C$13.00 by Analysts at Raymond James (PD)
Analysts at Raymond James hoisted their price objective on shares of Precision Drilling Corporation (TSE:PD) from C$11.75 to C$13.00 in a research report issued to clients and investors on Tuesday, Stock Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 13.64% from the stock’s previous close.
Shares of Precision Drilling Corporation (TSE:PD) traded up 1.75% during mid-day trading on Tuesday, hitting $11.64. 1,282,369 shares of the company’s stock traded hands. Precision Drilling Corporation has a 52 week low of $7.47 and a 52 week high of $11.69. The stock has a 50-day moving average of $10.07 and a 200-day moving average of $10.32. The company has a market cap of $3.294 billion and a price-to-earnings ratio of 381.33.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, February 25th.
PD has been the subject of a number of other recent research reports. Analysts at Pi Financial upgraded shares of Precision Drilling Corporation from a “neutral” rating to a “buy” rating in a research note on Friday. Separately, analysts at TD Securities raised their price target on shares of Precision Drilling Corporation from C$14.00 to C$15.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Scotiabank raised their price target on shares of Precision Drilling Corporation from C$13.00 to C$14.50 in a research note on Friday. They now have an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of C$13.63.
Precision Drilling Corporation (TSE:PD) is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada and the United States.
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