Precision Drilling (TSE:PD) PT Raised to C$130.00 at CIBC

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target increased by equities researchers at CIBC from C$110.00 to C$130.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price target suggests a potential upside of 39.02% from the stock’s current price.

PD has been the subject of a number of other reports. BMO Capital Markets upped their price target on Precision Drilling from C$125.00 to C$130.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Piper Sandler Companies cut their price target on Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating for the company in a report on Monday, January 8th. Evercore cut their price target on Precision Drilling from C$142.00 to C$139.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. ATB Capital upped their price target on Precision Drilling from C$125.00 to C$126.00 in a report on Monday, April 8th. Finally, TD Securities cut their price target on Precision Drilling from C$125.00 to C$115.00 and set a “buy” rating for the company in a report on Wednesday, February 7th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$126.73.

Precision Drilling Stock Up 3.6 %

PD opened at C$93.51 on Monday. Precision Drilling has a fifty-two week low of C$56.42 and a fifty-two week high of C$104.90. The business has a 50-day moving average of C$89.10 and a 200-day moving average of C$81.90. The company has a debt-to-equity ratio of 62.97, a current ratio of 1.40 and a quick ratio of 1.36. The company has a market capitalization of C$1.35 billion, a PE ratio of 4.76, a price-to-earnings-growth ratio of -3.24 and a beta of 2.92.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Tuesday, February 6th. The company reported C$4.70 earnings per share for the quarter, topping the consensus estimate of C$2.82 by C$1.88. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. The firm had revenue of C$506.87 million during the quarter, compared to analyst estimates of C$476.00 million. Equities research analysts forecast that Precision Drilling will post 8.6166667 EPS for the current fiscal year.

Insider Transactions at Precision Drilling

In other news, Senior Officer Veronica H. Foley sold 7,878 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of C$62.16, for a total transaction of C$489,696.48. In related news, Senior Officer Veronica H. Foley sold 7,878 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of C$62.16, for a total transaction of C$489,696.48. Also, Director Carey Thomas Ford sold 7,976 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$496,346.48. Insiders have sold a total of 21,373 shares of company stock valued at $1,329,227 over the last 90 days. 1.32% of the stock is owned by company insiders.

Precision Drilling Company Profile

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.