Precision Drilling (PD) Trading Up 0.5%
Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price was up 0.5% on Thursday . The company traded as high as C$4.29 and last traded at C$4.20. Approximately 2,805,014 shares changed hands during trading, a decline of 4% from the average daily volume of 2,933,648 shares. The stock had previously closed at C$4.18.
PD has been the subject of a number of recent research reports. Raymond James Financial reduced their target price on shares of Precision Drilling from C$5.75 to C$5.50 and set a “strong-buy” rating for the company in a research report on Tuesday, December 5th. Citigroup reduced their target price on shares of Precision Drilling from C$4.25 to C$4.00 in a research report on Friday, November 17th. CIBC reduced their target price on shares of Precision Drilling from C$8.00 to C$7.00 in a research report on Friday, October 20th. Canaccord Genuity reduced their target price on shares of Precision Drilling from C$4.25 to C$3.75 in a research report on Monday, October 30th. Finally, Deutsche Bank reiterated a “hold” rating and issued a C$4.00 target price on shares of Precision Drilling in a research report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of C$5.58.
The firm has a market capitalization of $1,370.00, a price-to-earnings ratio of -11.87 and a beta of 1.43.
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About Precision Drilling
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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