Precision Drilling Co. (PD) Price Target Cut to C$7.00 by Analysts at CIBC
Precision Drilling Co. (TSE:PD) (NYSE:PDS) had its price target reduced by equities research analysts at CIBC from C$8.00 to C$7.00 in a research report issued on Friday. CIBC’s target price would indicate a potential upside of 125.08% from the company’s current price.
Several other brokerages also recently commented on PD. Raymond James Financial, Inc. lowered their target price on shares of 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. Canaccord Genuity lowered their target price on shares of Precision Drilling from C$6.50 to C$4.75 in a report on Tuesday, July 11th. TD Securities reiterated a “buy” rating and issued a C$6.00 target price on shares of Precision Drilling in a report on Tuesday, September 12th. Royal Bank Of Canada lowered their target price on shares of Precision Drilling from C$7.00 to C$6.00 and set an “outperform” rating for the company in a report on Friday, October 6th. Finally, BMO Capital Markets lowered their target price on shares of 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Precision Drilling has a consensus rating of “Hold” and an average target price of C$6.55.
Precision Drilling (TSE PD) traded down 0.64% on Friday, hitting $3.09. 1,108,704 shares of the stock traded hands. Precision Drilling has a 52 week low of $3.01 and a 52 week high of $8.21. The stock has a 50 day moving average of $3.47 and a 200 day moving average of $4.33. The firm’s market capitalization is $906.11 million.
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In other Precision Drilling news, Director Brian James Gibson bought 35,000 shares of Precision Drilling stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average price of C$3.58 per share, for a total transaction of C$125,300.00. Also, Director Kevin A. Neveu bought 10,000 shares of Precision Drilling stock in a transaction dated Monday, August 28th. The stock was acquired at an average price of C$3.13 per share, with a total value of C$31,300.00. Insiders have purchased 55,000 shares of company stock valued at $182,900 in the last 90 days.
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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