Precision Drilling Co. (PD) Receives C$8.86 Average Price Target from Brokerages
Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have been given an average rating of “Buy” by the twelve analysts that are covering the company. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$8.86.
Several equities analysts have recently weighed in on PD shares. CIBC lowered their price target on Precision Drilling from C$10.50 to C$9.00 in a report on Wednesday, January 25th. Citigroup Inc lowered their price target on Precision Drilling from C$8.25 to C$7.00 in a report on Thursday, March 9th. Scotiabank reissued a “sector perform” rating and set a C$8.00 price target on shares of Precision Drilling in a report on Tuesday, April 25th. Raymond James Financial, Inc. reissued a “market perform” rating and set a C$7.40 price target on shares of Precision Drilling in a report on Tuesday, April 25th. Finally, Canaccord Genuity increased their price target on Precision Drilling from C$8.50 to C$8.75 in a report on Tuesday, January 10th.
Shares of Precision Drilling (TSE:PD) traded up 5.07% during mid-day trading on Tuesday, reaching $5.18. The company had a trading volume of 2,070,700 shares. The company’s market capitalization is $1.52 billion. Precision Drilling has a one year low of $4.66 and a one year high of $8.21. The company has a 50 day moving average price of $5.95 and a 200 day moving average price of $6.66.
In related news, insider Veronica H. Foley bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were bought at an average cost of C$5.10 per share, with a total value of C$25,500.00. Also, Director Carey Thomas Ford bought 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average cost of C$4.37 per share, for a total transaction of C$30,590.00. Over the last ninety days, insiders purchased 25,900 shares of company stock worth $123,274.
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Precision Drilling Company Profile
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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