Precision Drilling (TSE:PD) Share Price Passes Below Two Hundred Day Moving Average of $94.67

Precision Drilling Co. (TSE:PD) (NYSE:PDS) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$94.67 and traded as low as C$82.57. Precision Drilling shares last traded at C$84.73, with a volume of 110,350 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PD shares. Raymond James upped their target price on shares of 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. Royal Bank of Canada upped their price target on shares of Precision Drilling from C$122.00 to C$125.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. ATB Capital reduced their price target on shares of Precision Drilling from C$123.00 to C$113.00 in a research report on Monday, September 23rd. BMO Capital Markets upped 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. Finally, TD Securities upped their price objective on shares of 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. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Precision Drilling currently has a consensus rating of “Buy” and an average price target of C$130.00.

Precision Drilling Price Performance

The stock has a market cap of C$1.20 billion, a PE ratio of 5.29, a price-to-earnings-growth ratio of -3.24 and a beta of 2.80. The company’s fifty day moving average is C$93.71 and its 200 day moving average is C$94.67. The company has a quick ratio of 1.36, a current ratio of 1.51 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 analysts’ consensus estimates of C($0.85) by C$2.29. The firm had revenue of C$429.21 million during the quarter, compared to the consensus estimate of C$423.50 million. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%. As a group, sell-side analysts anticipate that Precision Drilling Co. will post 11.3888131 earnings per share for the current fiscal year.

Insider Activity

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 5,335 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$99.49, for a total value of C$530,779.18. In other Precision Drilling news, Director David Williams sold 3,500 shares of Precision Drilling stock in a transaction dated 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 business’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 value of C$530,779.18. Corporate insiders own 2.12% of the company’s stock.

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.