Precision Drilling (TSE:PD) Reaches New 1-Year Low – Should You Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$62.49 and last traded at C$63.46, with a volume of 179521 shares trading hands. The stock had previously closed at C$66.64.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. ATB Capital boosted their target price on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. CIBC decreased their target price on shares of Precision Drilling from C$125.00 to C$115.00 in a research note on Friday, February 14th. Royal Bank of Canada decreased their target price on shares of Precision Drilling from C$121.00 to C$110.00 in a research note on Friday, February 14th. Raymond James decreased their target price on shares of Precision Drilling from C$146.00 to C$141.00 in a research note on Friday, February 14th. Finally, TD Securities decreased their target price on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$119.00.

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 stock’s 50-day simple moving average is C$82.99 and its two-hundred day simple moving average is C$86.20. The company has a market capitalization of C$903.04 million, a price-to-earnings ratio of 3.73, a PEG ratio of -3.24 and a beta of 2.76.

Insiders Place Their Bets

In other news, Senior Officer Veronica H. Foley sold 3,393 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$263,499.70. Also, Director Carey Thomas Ford sold 5,108 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$396,686.26. 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.