Precision Drilling (TSE:PD) Sets New 52-Week Low – Should You Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$51.38 and last traded at C$56.35, with a volume of 179102 shares traded. The stock had previously closed at C$54.17.

Analyst Ratings Changes

A number of research firms have recently weighed in on PD. Raymond James cut Precision Drilling from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from C$141.00 to C$124.00 in a report on Wednesday. CIBC cut their target price on shares of Precision Drilling from C$125.00 to C$115.00 in a research note on Friday, February 14th. TD Securities decreased their price target on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. ATB Capital boosted their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$116.57.

Precision Drilling Price Performance

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 company has a 50 day moving average of C$70.51 and a 200-day moving average of C$81.51. The stock has a market capitalization of C$887.39 million, a P/E ratio of 3.67, a PEG ratio of -3.24 and a beta of 2.76.

Insider Buying and Selling at Precision Drilling

In other Precision Drilling news, Director Carey Thomas Ford sold 5,108 shares of the company’s stock in a transaction that occurred 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 that occurred on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$263,499.70. 2.12% of the stock is currently 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.