Precision Drilling (TSE:PD) Share Price Crosses Below 200-Day Moving Average of $94.62

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$94.62 and traded as low as C$89.07. Precision Drilling shares last traded at C$90.16, with a volume of 228,733 shares trading hands.

Analyst Ratings Changes

Several brokerages have weighed in on PD. CIBC upped their target price on Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Raymond James upped their target price on Precision Drilling from C$136.00 to C$143.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 1st. BMO Capital Markets upped their target price on Precision Drilling from C$135.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. TD Securities upped their target price 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. Finally, Royal Bank of Canada upped their target price on Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” 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 stock. Based on data from MarketBeat.com, Precision Drilling presently has a consensus rating of “Buy” and an average price target of C$131.00.

Precision Drilling Price Performance

The stock has a 50-day simple moving average of C$95.43 and a 200 day simple moving average of C$94.62. The company has a debt-to-equity ratio of 56.37, a quick ratio of 1.36 and a current ratio of 1.51. The company has a market cap of C$1.27 billion, a P/E ratio of 5.63, a P/E/G ratio of -3.24 and a beta of 2.80.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of C$423.50 million. On average, equities analysts expect that Precision Drilling Co. will post 12.8202568 EPS for the current year.

Insider Buying and Selling

In related news, 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. In related news, Director David Williams sold 3,500 shares of the firm’s stock in a transaction 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. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total value of C$530,779.18. 2.12% of the stock is owned by corporate 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.