Precision Drilling (TSE:PD) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$111.81 and traded as high as C$132.39. Precision Drilling shares last traded at C$126.47, with a volume of 74,023 shares.

Wall Street Analysts Forecast Growth

PD has been the topic of a number of research analyst reports. TD boosted their target price on Precision Drilling from C$127.00 to C$130.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. TD Securities boosted their target price on Precision Drilling from C$118.00 to C$123.00 in a research note on Thursday, February 12th. ATB Cormark Capital Markets boosted their target price on Precision Drilling from C$165.00 to C$175.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. National Bank Financial boosted their target price on Precision Drilling from C$140.00 to C$150.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets boosted their target price on Precision Drilling from C$160.00 to C$165.00 in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$152.25.

Precision Drilling Trading Up 1.2%

The company has a quick ratio of 1.36, a current ratio of 1.70 and a debt-to-equity ratio of 45.24. The firm has a 50 day moving average of C$129.78 and a 200 day moving average of C$112.14. The firm has a market cap of C$1.66 billion, a PE ratio of -123.09, a P/E/G ratio of -3.24 and a beta of 0.74.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Thursday, April 30th. The company reported C$1.34 EPS for the quarter. Precision Drilling had a negative return on equity of 0.94% and a negative net margin of 0.82%.The business had revenue of C$526.05 million for the quarter.

Precision Drilling Company Profile

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.