Precision Drilling (TSE:PD) Reaches New 12-Month High After Analyst Upgrade

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price reached a new 52-week high during trading on Tuesday after TD Securities raised their price target on the stock from C$80.00 to C$118.00. The company traded as high as C$107.15 and last traded at C$107.03, with a volume of 29518 shares traded. The stock had previously closed at C$104.89.

Several other research firms have also issued reports on PD. Atb Cap Markets raised Precision Drilling to a “strong-buy” rating in a research note on Thursday, October 30th. ATB Capital set a C$120.00 target price on Precision Drilling and gave the company an “outperform” rating in a research report on Friday, December 19th. Royal Bank Of Canada increased their price target on shares of Precision Drilling from C$110.00 to C$117.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. National Bankshares raised their price objective on shares of Precision Drilling from C$100.00 to C$120.00 and gave the company a “sector perform” rating in a research note on Friday, January 9th. Finally, Raymond James Financial lifted their price objective on shares of Precision Drilling from C$132.00 to C$133.00 and gave the company an “outperform” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$116.86.

Precision Drilling Stock Performance

The stock has a 50-day moving average price of C$95.16 and a 200 day moving average price of C$83.87. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. The firm has a market capitalization of C$1.41 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of -3.24 and a beta of 1.30.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its earnings results on Wednesday, October 22nd. The company reported C($0.51) earnings per share for the quarter. Precision Drilling had a net margin of 12.53% and a return on equity of 14.96%. The firm had revenue of C$462.25 million during the quarter.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.