Precision Drilling (TSE:PD) Hits New 12-Month Low – Here’s What Happened

Precision Drilling Co. (TSE:PD) (NYSE:PDS) hit a new 52-week low on Thursday . The company traded as low as C$72.50 and last traded at C$72.58, with a volume of 191837 shares traded. The stock had previously closed at C$74.25.

Analyst Ratings Changes

A number of brokerages have weighed in on PD. Royal Bank of Canada lowered their price target on Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. TD Securities lowered their price target on Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Raymond James lowered their price target on Precision Drilling from C$146.00 to C$141.00 in a research report on Friday, February 14th. CIBC lowered their price target on Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. Finally, ATB Capital upped their target price on Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$119.00.

Precision Drilling Stock Down 1.0 %

The firm has a 50 day simple moving average of C$85.16 and a two-hundred day simple moving average of C$87.37. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. The stock has a market capitalization of C$1.02 billion, a P/E ratio of 4.22, a PEG ratio of -3.24 and a beta of 2.76.

Insider Activity

In related news, Director Carey Thomas Ford sold 5,108 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total value of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$263,499.70. 2.12% of the stock is owned by corporate insiders.

About Precision Drilling

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.