Precision Drilling (TSE:PD) Stock Passes Below 200 Day Moving Average – What’s Next?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$92.85 and traded as low as C$86.50. Precision Drilling shares last traded at C$87.64, with a volume of 45,583 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PD shares. Royal Bank of Canada increased their target price on shares of Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. ATB Capital lowered their target price on shares of Precision Drilling from C$123.00 to C$113.00 in a research report on Monday, September 23rd. CIBC increased their target price on shares of Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. TD Securities lowered their target price on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Finally, BMO Capital Markets lowered their price target on Precision Drilling from C$140.00 to C$130.00 in a research report on Friday, October 4th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$126.90.

Precision Drilling Trading Down 0.8 %

The firm has a market capitalization of C$1.24 billion, a price-to-earnings ratio of 5.47, a P/E/G ratio of -3.24 and a beta of 2.76. The business has a 50-day moving average of C$85.85 and a two-hundred day moving average of C$92.85. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37.

Insider Buying and Selling

In other Precision Drilling news, Director David Williams sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$100.01, for a total transaction of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. 2.12% 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.