Insider Selling: Precision Drilling Co. (TSE:PD) Director Sells C$350,035.00 in Stock

Precision Drilling Co. (TSE:PD) (NYSE:PDS) Director David Williams sold 3,500 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$100.01, for a total value of C$350,035.00.

Precision Drilling Stock Performance

PD stock opened at C$98.61 on Friday. The business’s fifty day moving average is C$97.22 and its 200-day moving average is C$93.90. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37. The company has a market cap of C$1.40 billion, a P/E ratio of 6.16, a price-to-earnings-growth ratio of -3.24 and a beta of 2.81. Precision Drilling Co. has a twelve month low of C$67.46 and a twelve month high of C$109.20.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$1.44 earnings per share for the quarter, beating analysts’ consensus estimates of C($0.85) by C$2.29. The company had revenue of C$429.21 million for the quarter, compared to the consensus estimate of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. Equities research analysts forecast that Precision Drilling Co. will post 10.3995749 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on PD shares. Raymond James increased their price objective on Precision Drilling from C$136.00 to C$143.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. TD Securities increased their price objective on Precision Drilling from C$115.00 to C$140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets increased their price objective on Precision Drilling from C$135.00 to C$140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. CIBC increased their price objective on Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, ATB Capital increased their price objective on Precision Drilling from C$120.00 to C$123.00 in a research report on Thursday, August 1st. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Precision Drilling currently has a consensus rating of “Buy” and an average target price of C$131.00.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.