Precision Drilling (TSE:PD) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$121.61 and traded as low as C$105.79. Precision Drilling shares last traded at C$107.68, with a volume of 90,451 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on Precision Drilling from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. TD cut their price target on shares of Precision Drilling from C$124.00 to C$116.00 and set a “hold” rating on the stock in a report on Thursday, July 30th. National Bank Financial lifted their price target on shares of Precision Drilling from C$140.00 to C$150.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. ATB Cormark Capital Markets decreased their price objective on shares of Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Finally, Raymond James Financial increased their price objective on shares of Precision Drilling from C$162.00 to C$165.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$148.00.

Precision Drilling Stock Performance

The stock has a 50 day simple moving average of C$117.62 and a 200 day simple moving average of C$121.61. The company has a market cap of C$1.38 billion, a price-to-earnings ratio of -45.63, a PEG ratio of -3.24 and a beta of 0.34. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 43.54.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its earnings results on Wednesday, July 29th. The company reported C($0.52) earnings per share for the quarter. The company had revenue of C$452.80 million during the quarter. Precision Drilling had a negative return on equity of 2.03% and a negative net margin of 1.71%.

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.