Precision Drilling (TSE:PD) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$87.92 and traded as high as C$94.77. Precision Drilling shares last traded at C$94.19, with a volume of 127,049 shares changing hands.

Analyst Ratings Changes

Several research analysts recently weighed in on PD shares. TD Securities reduced their price target on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. Raymond James lowered their price objective on Precision Drilling from C$143.00 to C$142.00 in a report on Tuesday, October 15th. ATB Capital raised their target price on Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. Finally, BMO Capital Markets lowered their price target on Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$130.50.

Precision Drilling Trading Up 0.7 %

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 company has a fifty day moving average price of C$87.92 and a two-hundred day moving average price of C$90.60. The firm has a market capitalization of C$1.33 billion, a price-to-earnings ratio of 5.88, a PEG ratio of -3.24 and a beta of 2.76.

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.