Precision Drilling (TSE:PD) Share Price Crosses Above 50 Day Moving Average of $1.66
Precision Drilling Corp (TSE:PD) (NYSE:PDS)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.66 and traded as high as $1.43. Precision Drilling shares last traded at $1.39, with a volume of 1,556,849 shares trading hands.
A number of research firms recently issued reports on PD. National Bank Financial dropped their price target on shares of Precision Drilling from C$3.50 to C$3.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Evercore dropped their price target on shares of Precision Drilling from C$5.00 to C$4.50 in a research note on Monday, July 29th. Raymond James set a C$4.75 price target on shares of Precision Drilling and gave the company a “strong-buy” rating in a research note on Tuesday, August 20th. BMO Capital Markets dropped their price target on shares of Precision Drilling from C$5.00 to C$3.00 in a research note on Tuesday, September 10th. Finally, Citigroup cut shares of Precision Drilling from a “buy” rating to a “neutral” rating and dropped their price target for the company from C$2.50 to C$1.90 in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of C$4.22.
The business has a fifty day simple moving average of C$1.66 and a two-hundred day simple moving average of C$2.43. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 102.02. The company has a market cap of $428.92 million and a PE ratio of -1.82.
In other news, Director Kevin A. Neveu acquired 35,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were bought at an average price of C$1.43 per share, for a total transaction of C$50,015.00. Following the acquisition, the director now owns 1,055,966 shares of the company’s stock, valued at approximately C$1,508,975.41.
Precision Drilling Company Profile (TSE:PD)
Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
Recommended Story: Day Trading – Risk Worth the Reward?
Receive News & Ratings for Precision Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling and related companies with MarketBeat.com's FREE daily email newsletter.