Precision Drilling (TSE:PD) Trading Up 7.6% – Should You Buy?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price traded up 7.6% during mid-day trading on Wednesday . The company traded as high as C$85.64 and last traded at C$85.55. 93,424 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 85,189 shares. The stock had previously closed at C$79.50.

Analyst Ratings Changes

PD has been the subject of a number of recent research reports. CIBC lifted their price objective on shares of Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. BMO Capital Markets reduced their price target on Precision Drilling from C$140.00 to C$130.00 in a research report on Friday, October 4th. TD Securities dropped their price objective on Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Royal Bank of Canada lifted their target price on Precision Drilling from C$122.00 to C$125.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Raymond James decreased their price target on Precision Drilling from C$143.00 to C$142.00 in a research report on Tuesday, October 15th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$126.90.

Precision Drilling Trading Down 1.7 %

The stock has a market capitalization of C$1.18 billion, a P/E ratio of 5.22, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The stock’s fifty day moving average price is C$87.80 and its two-hundred day moving average price is C$93.58. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 EPS for the quarter, topping the consensus estimate of C($0.85) by C$2.29. The firm 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%.

Insider Activity at Precision Drilling

In other news, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction dated 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 Precision Drilling news, Director David Williams sold 3,500 shares of the business’s stock in a transaction on 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 firm’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. 2.12% of the stock is currently owned by company insiders.

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.