Precision Drilling Co. (TSE:PD) Given Consensus Recommendation of “Buy” by Analysts
Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have been assigned an average rating of “Buy” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$8.18.
PD has been the topic of several research analyst reports. Raymond James Financial, Inc. dropped their target price on Precision Drilling from C$7.40 to C$7.20 and set an “outperform” rating on the stock in a research note on Wednesday, April 26th. CIBC boosted their target price on Precision Drilling from C$8.00 to C$11.00 in a research note on Thursday, July 20th. BMO Capital Markets restated an “outperform” rating and set a C$9.00 target price on shares of Precision Drilling in a research note on Tuesday, April 25th. Scotiabank restated a “sector perform” rating and set a C$8.00 target price on shares of Precision Drilling in a research note on Tuesday, April 25th. Finally, Canaccord Genuity dropped their target price on Precision Drilling from C$6.50 to C$4.75 in a research note on Tuesday, July 11th.
In other news, Director Brian James Gibson purchased 35,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were acquired at an average price of C$3.58 per share, for a total transaction of C$125,300.00.
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Precision Drilling (TSE PD) remained flat at $3.75 during trading on Friday. 2,726,963 shares of the stock traded hands. The company’s market cap is $1.10 billion. Precision Drilling has a one year low of $3.57 and a one year high of $8.21. The company has a 50-day moving average price of $3.95 and a 200 day moving average price of $5.47.
About Precision Drilling
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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