Precision Drilling (TSE:PD) Stock Price Passes Below 200-Day Moving Average of $94.26

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares 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.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of 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. ATB Capital lifted their price target on Precision Drilling from C$120.00 to C$123.00 in a research note on Thursday, August 1st. TD Securities increased their price target on Precision Drilling from C$115.00 to C$140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. CIBC boosted 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, Raymond James increased their target price 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. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$131.00.

Precision Drilling Stock Performance

The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37. The stock has a market capitalization of C$1.26 billion, a PE ratio of 5.50, a price-to-earnings-growth ratio of -3.24 and a beta of 2.81. The firm’s fifty day moving average is C$97.14 and its 200-day moving average is C$94.24.

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

Insider Transactions at Precision Drilling

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

Precision Drilling Company Profile

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.