Precision Drilling (TSE:PD) Stock Price Crosses Below Two Hundred Day Moving Average of $94.26

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$94.26 and traded as low as C$90.39. Precision Drilling shares last traded at C$90.75, with a volume of 82,853 shares traded.

Analyst Ratings Changes

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

Precision Drilling Price Performance

The company has a debt-to-equity ratio of 56.37, a current ratio of 1.51 and a quick ratio of 1.36. The business’s 50-day moving average price is C$97.14 and its two-hundred day moving average price is C$94.24. The firm has a market cap of C$1.26 billion, a price-to-earnings ratio of 5.50, a P/E/G ratio of -3.24 and a beta of 2.81.

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

Insider Buying and Selling at Precision Drilling

In related news, Director David Williams sold 3,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$100.01, for a total transaction of C$350,035.00. In other news, Director David Williams sold 3,500 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$100.01, for a total transaction of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. 2.12% of the stock is currently owned by insiders.

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.