Precision Drilling Co. (PD) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have received an average rating of “Buy” from the eleven analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$6.20.
PD has been the subject of a number of analyst reports. Raymond James Financial reduced their target price on shares of Precision Drilling from C$5.75 to C$5.50 and set a “strong-buy” rating for the company in a research note on Tuesday, December 5th. Citigroup reduced their target price on shares of Precision Drilling from C$4.25 to C$4.00 in a research note on Friday, November 17th. Canaccord Genuity reduced their target price on shares of Precision Drilling from C$4.25 to C$3.75 in a research note on Monday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a C$6.00 target price on shares of Precision Drilling in a research note on Monday, October 30th. Finally, CIBC reduced their price target on shares of Precision Drilling from C$8.00 to C$7.00 in a research note on Friday, October 20th.
Precision Drilling (TSE PD) traded down C$0.02 during midday trading on Friday, hitting C$3.25. 1,640,351 shares of the stock traded hands, compared to its average volume of 2,043,430. Precision Drilling has a 1-year low of C$2.89 and a 1-year high of C$8.11.
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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