Precision Drilling (PD) Shares Up -2.1%

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shot up 2.1% during mid-day trading on Wednesday . The stock traded as high as C$3.34 and last traded at C$3.23. 4,983,308 shares traded hands during mid-day trading, an increase of 143% from the average session volume of 2,053,710 shares. The stock had previously closed at C$3.30.

Several equities research analysts have recently weighed in on the stock. Raymond James Financial lowered their target price on shares of Precision Drilling from C$5.75 to C$5.50 and set a “strong-buy” rating on the stock in a report on Tuesday, December 5th. Citigroup lowered their target price on shares of Precision Drilling from C$4.25 to C$4.00 in a report on Friday, November 17th. Canaccord Genuity lowered their target price on shares of Precision Drilling from C$4.25 to C$3.75 in a report on Monday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$6.00 target price on shares of Precision Drilling in a report on Monday, October 30th. Finally, CIBC lowered their target price on shares of Precision Drilling from C$8.00 to C$7.00 in a report on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Precision Drilling currently has a consensus rating of “Buy” and a consensus price target of C$6.20.

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Precision Drilling Company Profile

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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