Precision Drilling (TSE:PD) Sets New 1-Year Low – Here’s What Happened

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$72.50 and last traded at C$72.58, with a volume of 191837 shares. The stock had previously closed at C$74.25.

Analyst Ratings Changes

PD has been the topic of several research reports. ATB Capital increased their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Raymond James lowered their target price on Precision Drilling from C$146.00 to C$141.00 in a report on Friday, February 14th. CIBC cut their price target on Precision Drilling from C$125.00 to C$115.00 in a report on Friday, February 14th. TD Securities dropped their target price on Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Finally, Royal Bank of Canada cut their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$119.00.

Precision Drilling Stock Down 2.2 %

The stock has a market cap of C$1.03 billion, a price-to-earnings ratio of 4.27, a P/E/G ratio of -3.24 and a beta of 2.76. The business has a fifty day moving average of C$85.51 and a 200 day moving average of C$87.82. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36.

Insider Activity

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