Precision Drilling (TSE:PD) Hits New 1-Year Low After Insider Selling

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) hit a new 52-week low on Friday after an insider sold shares in the company. The stock traded as low as C$76.20 and last traded at C$76.64, with a volume of 67101 shares traded. The stock had previously closed at C$77.80.

Specifically, Director Carey Thomas Ford sold 5,108 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$263,499.70.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. ATB Capital upped their price target on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Royal Bank of Canada dropped their price target on shares of Precision Drilling from C$121.00 to C$110.00 in a research note on Friday, February 14th. Raymond James lowered their target price on shares of Precision Drilling from C$146.00 to C$141.00 in a research report on Friday, February 14th. CIBC lowered their target price on shares of Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. Finally, TD Securities lowered their target price on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Precision Drilling currently has a consensus rating of “Buy” and an average target price of C$119.00.

Precision Drilling Trading Down 1.3 %

The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The company’s 50 day moving average is C$86.05 and its two-hundred day moving average is C$88.34. The firm has a market cap of C$1.09 billion, a P/E ratio of 4.52, 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.