Analysts Set Precision Drilling Co. (PD) PT at $7.73
Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have earned an average recommendation of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$7.73.
PD has been the topic of a number of research reports. Raymond James Financial, Inc. cut their price objective on Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating on the stock in a report on Tuesday, August 22nd. Canaccord Genuity cut their price objective on Precision Drilling from C$6.50 to C$4.75 in a report on Tuesday, July 11th. TD Securities restated a “buy” rating and issued a C$6.00 price objective on shares of Precision Drilling in a report on Tuesday, September 12th. BMO Capital Markets cut their price objective on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a report on Tuesday, August 1st. Finally, CIBC raised their price objective on Precision Drilling from C$8.00 to C$11.00 in a report on Thursday, July 20th.
In related news, Director Kevin A. Neveu bought 10,000 shares of the stock in a transaction dated Monday, August 28th. The stock was acquired at an average price of C$3.13 per share, for a total transaction of C$31,300.00. Also, 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 price of C$3.58 per share, with a total value of C$125,300.00. In the last quarter, insiders bought 55,000 shares of company stock valued at $182,900.
Precision Drilling (PD) traded down 3.85% during trading on Friday, reaching $3.50. The company’s stock had a trading volume of 2,393,476 shares. Precision Drilling has a 1-year low of $3.01 and a 1-year high of $8.21. The company’s 50-day moving average is $3.45 and its 200-day moving average is $4.54. The company’s market capitalization is $1.03 billion.
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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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