Precision Drilling (TSE:PD) Given New C$89.00 Price Target at Royal Bank of Canada

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price decreased by Royal Bank of Canada from C$110.00 to C$89.00 in a report released on Thursday morning,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other analysts also recently commented on PD. Raymond James downgraded Precision Drilling from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from C$141.00 to C$124.00 in a research report on Wednesday, April 9th. CIBC decreased their price objective on shares of Precision Drilling from C$115.00 to C$95.00 in a research report on Thursday, April 10th. Finally, TD Securities dropped their target price on shares of Precision Drilling from C$89.00 to C$69.00 and set a “hold” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$102.14.

Precision Drilling Price Performance

PD stock opened at C$60.04 on Thursday. The firm has a 50 day moving average of C$66.80 and a 200-day moving average of C$79.98. The company has a market cap of C$854.37 million, a price-to-earnings ratio of 3.53, a PEG ratio of -3.24 and a beta of 2.76. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. Precision Drilling has a 12-month low of C$51.38 and a 12-month high of C$109.20.

Insider Transactions at Precision Drilling

In related news, Director Carey Thomas Ford sold 5,108 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total value of C$263,499.70. Insiders own 2.12% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.