Precision Drilling (TSE:PD) Lowered to Outperform Rating by Raymond James

Raymond James downgraded shares of Precision Drilling (TSE:PD) (NYSE:PDS) from a strong-buy rating to an outperform rating in a report released on Wednesday,BayStreet.CA reports. They currently have C$124.00 target price on the stock, down from their prior target price of C$141.00.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada lowered their target price on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. ATB Capital boosted their target price on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. CIBC dropped their price target on shares of Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. Finally, TD Securities decreased their price objective on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating for the company in a report on Friday, February 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$116.57.

Precision Drilling Stock Down 8.0 %

Shares of Precision Drilling stock traded down C$5.00 during trading on Wednesday, hitting C$57.36. 67,301 shares of the stock traded hands, compared to its average volume of 151,873. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. The stock has a market cap of C$816.24 million, a P/E ratio of 3.38, a PEG ratio of -3.24 and a beta of 2.76. Precision Drilling has a twelve month low of C$51.38 and a twelve month high of C$109.20. The company has a fifty day moving average price of C$69.57 and a two-hundred day moving average price of C$81.18.

Insider Activity

In other news, Director Carey Thomas Ford sold 5,108 shares of the 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 business’s 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 currently owned by company 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.