Royal Bank Of Canada Lowers Precision Drilling Co. (PD) Price Target to C$6.00
Precision Drilling Co. (TSE:PD) (NYSE:PDS) had its target price dropped by stock analysts at Royal Bank Of Canada from C$7.00 to C$6.00 in a report released on Friday, StockTargetPrices.com reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 68.07% from the company’s previous close.
A number of other equities analysts have also recently issued reports on PD. Canaccord Genuity dropped their target price on Precision Drilling from C$4.75 to C$4.25 in a report on Wednesday, August 2nd. BMO Capital Markets dropped their target price on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating for the company in a report on Tuesday, August 1st. Raymond James Financial, Inc. dropped their target price on Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating for the company in a report on Tuesday, August 22nd. CIBC increased their target price on Precision Drilling from C$8.00 to C$11.00 in a report on Thursday, July 20th. Finally, TD Securities reissued a “buy” rating and issued a C$6.00 target price on shares of Precision Drilling in a report on Tuesday, September 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of C$7.45.
Shares of Precision Drilling (PD) traded down 2.80% on Friday, reaching $3.47. The company had a trading volume of 1,828,024 shares. The firm’s market capitalization is $1.02 billion. The company’s 50-day moving average is $3.45 and its 200 day moving average is $4.52. Precision Drilling has a 12 month low of $3.01 and a 12 month high of $8.21.
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In other news, Director Brian James Gibson bought 35,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was bought at an average cost of C$3.58 per share, with a total value of C$125,300.00. Also, Director Steven Wayne Krablin bought 10,000 shares of the stock in a transaction dated Friday, August 18th. The stock was purchased at an average cost of C$2.63 per share, with a total value of C$26,300.00. Insiders have purchased a total of 55,000 shares of company stock valued at $182,900 over the last ninety days.
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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